Law: Wealth Tax Act, 1957

Section: 27(1),21(4)

Law: Income Tax Act, 1922

Section: 41(1)

Wealth tax--- ---- Trust---Assessment of trust---Trust for benefit of five deities---Shares of deities not specified---Shares of deities equal---Objects of trust including other charities of a religious nature---Object subservient to main object of upkeep of deities---Trust not assessable under S.21(4)---Indian Wealth Tax Act, 1957, S.21. The assessee was a private trust established for the worship of Lord Shree Ganapati and four other deities. Its objects included other charities of-a religious nature as the managing trustee may, in his discretion, deem fit. The Wealth Tax Officer assessed the trust under section 21(4) of the Wealth Tax Act, 1957, and this was upheld by the Tribunal On a reference: Held, that the trust was for the benefit of the five deities comprising Ganapati Panchayatan and the other object mentioned was not independent. In any event, that object was not a beneficiary as such. Though the shares of the five deities were not specified in the deed of trust, it had to be taken that their shares were equal. The assessment, therefore, could not legally be section 21(4). Chintamani Ghosh Trust v. CWT (1971) 80 ITR 331 (All.); CIT v. Ashalata Devi (Smt.) (1951) 20 ITR 326 (Cal.); CIT v. Bhim C4handra Ghosh (1956) 30 ITR 46 (Cal.); CIT v. Lady Ratanbai Mathuradas (1968) 67 ITR 504 (Bom.); CIT v. Official Trustee of West Bepgal (1983) 139 ITR 1 (Cal.); CIT v. Pulin Behari Dey (1951) 20 ITR 314 (Cal.); CIT v. Sri Sri Sridhar Jew (1990) 1134 ITR 323 (Cal.); CWT v. Trustees of the Estate of V.R. Chetty & Bros. (1979) 120 ITR 329 (Mad.); CED v. Bai Suntokbai Damodar Govindji (1981) 132 ITR 223 (Bom.); Jogeswar Narain Deo v. Ram Chandra Dutt (1896) 23 IA 37; ILR 23 Cal. 670 (PC); Panchanan Das v, CIT (1951) 20 ITR 57 (Cal.) and Sri Sri Jyotishwari Kalimata v. CIT (1946) 14 ITR 703 (Pat.) ref. JUDGMENT T.D. SUGLA, J.---In this reference at the instance of the assessee, the Tribunal has referred to this Court the following question of law for opinion under section 27(1) of the Wealth Tax Act, 1957: "Whether, on the facts and in the circumstances of the case, the Tribunal erred in holding that the applicant was assessable to wealth tax according to the…

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