K.C. Agrawal, J.

1. This is a reference under Section 64(1) of the E.D. Act, 1953 (Act 34 of 1953) (hereinafter referred to as "the Act"), made by the Income-tax Appellate Tribunal, Delhi Bench "C". The following question has been referred by it for our opinion :

"Whether, on the facts and in the circumstances of the case, properties settled on trust at the time of the execution of trust by the deceased could be deemed to have passed on her death ?"

2. The matter arises out of the estate duty case of Miss H.S. Oliphant, who died on September 26, 1962. Sri K.S. Srivastava, who is one of the trustees under the trust created by Miss Oliphant, is the accountable person. He filed a statement regarding the estate of the deceased before the Asst. CED. Miss Oliphant founded a preparatory school for Indian boys called Welham Preparatory School in 1937. She acquired more properties thereafter. On September 29, 1956, having realised that she being 73 years of age was sufficiently old, executed a trust deed settling all the properties in favour of the school. This trust deed was executed by her to ensure the continuity and efficient management of the school so that it could render servic