( 1 ) THIS is an application filed by the assessee, Lala Bansi Dhar and Sons, under Section 151 of the Code of Civil Procedure in the two Income-tax References Nos. 82 and 83 of 1973 relating to the assessment years 1960-61 and 1962-63 respectively, praying that this Court may grant an order of injunction restraining the Commissioner of Income-tax (1), Central Revenue, Building and/or his subordinate officers including the Income-tax Officer, Company Circle (III), from enforcing and/or realising the demand raised in the aforesaid assessment years 1960-61 and 1962-63, and from taking any steps for the recovery thereof till the disposal of the References pending in this Court.

( 2 ) FOR a proper appreciation of the above prayers, it is necessary to state the relevant facts. The assessee is a Hindu Undivided Family (hereinafter REFERRED TO to as the H. U. F ). The karta of the H. U. F. is Lala Bansi Dhar. His father, Lala Murli Dhar, died in the year 1949 in an air-crash. On the death of the father, a sum of Rs. 2,49,874. 00 was received by Lala Bansi Dhar from an Insurance Company on account of an accident insurance policy covering the risk to the life of th