( 1 ) THESE two reference applications involve identical points for adjudication in relation to Sir Sobha Singh Public Charitable Trust, (hereinafter referred to as the assessee) for the assessment years 1973-74 and 1974-75. At the instance of revenue, the following questions have been referred for opinion of this Court under section 256 (1) of the Income-tax Act, 1961 (in short the Act) by the Income-tax appellate Tribunal, Delhi Bench (in short, the Tribunal)

"whether on the facts and in the circumstances of the case the ITAT was right in law in holding that the provisions of section 13 (2) (h) of the Income-tax act were not applicable to the assessee s case and thereby exempting the assessee from tax under S. 11 of the Income tax Act in respect of the income arising to it from the shares and property donated by Sir Sobha Singh?

"whether on the facts and in the circumstances of the case the Tribunal is correct in law in holding that the provisions of Section 13 (2) (h) of the Income- tax Act are not applicable to the present case and thereby exempting the assessee from tax under S. 11 of the Income-tax Act. "

( 2 ) FACTUAL position in a nutshell is as follows: assessee