BHAGWATI, J. :- This Reference raises an interesting question relating to the applicability of Sections 5 and 23 of the Estate Duty Act, 1953, in relation to a settlement made by one Rambhai Patel of Uganda. The settlement was made on 26th June 1941 and the subject matter of the settlement consisted of 160 shares in a limited Company called Central Cotton Trading Company (Uganda) Limited. It appears that prior to the date of the settlement a declaration of trust was made by Rambhai Patel on 19th December 1939 settling on trust his six annas share in a partnership business carried on in the name of Central Cotton Trading Company Uganda for the benefit of his two minor sons, Mahendra and Manubhai. The partnership was thereafter converted into a limited Company, namely, Central Cotton Trading Company (Uganda) Limited and in respect of the six annas share settled on trust, 160 fully paid up shares were allotted. So shares bearing numbers 279 to 358 being allotted in the name of one Purshottam Patel in trust for Mahendra and 80 shares bearing Nos. 1 to 80 being allotted in the name of Rambhai Patel in trust for Manubhai. Rambhai Patel thereafter made a declaration of trust in r