( 1 ) THIS Reference has been made by the Chief Controlling Revenue Authority under Section 57 of the Indian Stamp Act in respect of a document because that Authority felt a doubt as to whether the stamp duty on the instrument was chargeable as a settlement or as a trust. The following three questions have been drafted by the Authority on which our opinion has been sought: (1) Whether the draft deed under reference is a "declaration of Trust" chargeable under Article 64, Schedule I-B of the Stamp Act; or (2) whether it is a "settlement" as defined in Section 2 (24) (b) of the Act, chargeable under article 58, Schedule I-B of the Act, or (3) if it is neither, under what other category does it fall under the Stamp Act for purposes of charging stamp duty.

( 2 ) WE may at the outset mention that it appears to us that in framing the questions for our opinion the Chief Controlling Revenue Authority appears to have proceeded on the incorrect basis that the instrument under the Stamp Act can be either a deed of trust or a deed of settlement only and not both. The word "settlement" is defined in Section 2 (24) of the Act as follows: " settlement means any non-testamentary di