TMI Blog1999 (9) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... the earlier deed was modified and right of the assessee in the property at door No. 15, Govindappa Naicken Street, George Town, Madras, was confined to the first floor of the building. The Tribunal as also the Commissioner have disagreed with the view of the Income-tax Officer that notwithstanding the supplementary deed the entire property should be assessed in the hands of the assessee. In our vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Appellate Tribunal was right in law and had -valid materials to hold that only the life interest attributable to the first floor of the property at 15, Govindappa Naicken Street, Madras, can alone be considered in the hands of the assessee, as wealth for the purpose of wealth-tax assessment? 2. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest in the trust property is limited. The power of the trustee is derived from and is limited to what has been conferred by the document by which the trust has been created. All amendments or modifications made thereto by the settlor, which are otherwise legally valid, are binding on the trustee. By the supplementary trust deed, as already noticed the right given to the assessee in this property ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal after a thorough independent review. Adequate attention is not being paid by the Revenue to screen the decisions of the Tribunal and to bring before the High Court only matters of real substance. Over 95 percent of the references to this court are at the instance of the Revenue and only a small proportion of those references result in answers to the question referred being recorded in fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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