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6. Mr. Joshi, on behalf of the revenue, contended that in order to constitute in law a valid trust in respect of immovable properties by an indenture of trust the properties ought to be transferred to the trustees and if the indenture of trust does not effect such transfer it will not be sufficient to create in law a trust within the meaning of the Indian Trusts Act. He submitted that in the present case there are no actual words of transfer, but on the other hand, there is a mere recital in the indenture of trust to the effect that Dr. Divekar and Dr. Mrs. Divekar did transfer the immovable properties referred to therein to the trustees. His submission was that the use of the past tense itself indicated that the transfer was not effected by the trust deed but it was merely a record of a past transaction and it was invalid in law in the absence of an instrument in writing duly registered. Secondly he submitted that even if upon construction of the provisions contained in the indenture of trust it is treated as a valid trust as understood in law, still the trust is not, inter alia, in respect of the business of the maternity hospitals but the trustees were expected to carry on the business by conducting hospitals and if that is so, the conditions laid down in proviso (b) to section 4(3)(i) of the Act ought to be fulfilled and as the said conditions are not fulfilled the income cannot be exempted from tax. So far as the payment of the salary of Rs. 7,500 was concerned, he submitted that the said salary was paid to one of the assessees and, therefore, cannot be permitted to be deducted in computing the income assessable for the relevant year. Mr. Munim, on the other hand, on behalf of the assessee, contended that in respect of document drafted by an advocate regard should be had to the substance of the deed and if that is done then there can be no doubt whatsoever that by the very indenture of trust the immovable properties mentioned therein are transferred to the trustees and a trust is declared by the trustees. Such a document, he submitted, is sufficient to constitute a valid trust under the Indian Trust Act. He further submitted that the trust was in respect of property known as "Abhay" at Versova as well as the business of two maternity hospitals and when such is the position the question of complying with the conditions laid down in proviso (b) to section 4(3)(i) of the Act does not arise. So far as the payment of the salary of Rs. 7,500 to Dr. Mrs. Divekar was concerned, he submitted that it was authorised by the indenture of trust and was a permissible deduction.