( 1 ) THE Tribunal, Allahabad has referred the following question of law under Section 256 (1) of the IT Act, 1961 (hereinafter referred to as "the Act") for opinion to this Court :

"whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding the assessee trust to be a valid one in spite of the fact that the trust, deed did not provide for the eventuality of both the minor beneficiaries expiring before attaining majority ?"

( 2 ) THE reference relates to the asst. yr. 1983-84.

( 3 ) BRIEFLY stated the facts giving rise to the present reference are as follows : the respondent is a trust which had filed its return of income for the first time for the asst. yr. 1983-84 on 20th Jan. , 1986 declaring total income of Rs. 9,105. The return was filed in the status of AOP. The trust was created in the form of a letter dt. 29th March, 1978 which was written by km. Ranjana Mehra to M/s Mehra Hosiery Factory Sales, Lucknow, whereby a sum of Rs. 8,900 was settled in trust in favour of two minor girls as beneficiaries. In the first paragraph of the letter, it was stated that on both the minor attaining majority, the trustees should have a right to diss

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