1. - As D.B. Civil Income-tax Reference No. 66/66 and D.B. Civil Wealth-tax Reference No. 36/66 arise out of the same facts, they are disposed of by this single judgment.

2. We first take up D.B. Civil Income-tax Reference No. 66/66. The Income-tax Appellate Tribunal, Delhi Bench 'C' (hereinafter called "the Tribunal"), has referred the following question for the opinion of this court under section 66(1) of the Income-tax Act, 1922 (hereinafter called "the Act"):

"Whether, on the facts and in the circumstances of the case, the gift of Rs. 4 lakhs was voidable and as such the interest accruing on the aforesaid gifted amount did not accrue to the assessee family for income-tax purposes?"

3. The statement of the case submitted by the Tribunal shows that the assessee is a Hindu undivided family whose karta is Shri Ramswaroop. By a deed dated 25th February, 1956, Shri Ramswaroop gifted to the undermentioned persons the amounts noted against their names: