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Judgment
Dr. B.P. Saraf, J
By this reference under s. 256(1) of the IT Act, 1961, the Tribunal, at the instance of the assessee, has referred the following two questions of law to this Court for the opinion :
"(1) Whether, on the facts and in the circumstances of the case, the gifts of movable properties made to persons who were relations of G. N. Agrawal, but not members of the HUF were valid in law ?
(2) If the answer to question No. (1) is in the negative, whether yet the income earned by the donees from the amounts which were received by them can be included in the assessment of the assessee ?"
The questions pertain to the asst. yrs. 1971-72, 1972-73 and 1973-74. The controversy involved in the two questions is fully covered by the decision of this Court in the case of this very assessee Gangadhar Narsingdas Agrawal (Huf) Vs. Commissioner of Income Tax, in respect of the asst. yrs. 1964-65, 1965-66 and 1966-67. Following the said decision, we answer question No. 1 in the negative, i.e., in favour of the Revenue and against the assessee. Question No. 2 is answered in the affirmative, i.e., in favour of the Revenue and against the assessee.
No order as to costs.