JUDGMENT
1. Sri Bharatji Agarwal, learned counsel appearing for the Revenue, Sri S.P. Gupta, learned counsel representing the assessee-opposite party, are heard.
2. This is an application under Section 256(2) of the Income-tax Act, 1961.
3. Having heard learned counsel for the respective parties and perusing the application in the opinion of this court, the following questions of law do arise out of the order passed by the Income-tax Appellate Tribunal :
"1. Whether the Tribunal is correct in law in allowing the deduction of Rs. 3,73,841 on account of interest on excess levy sugar price ?
2. Whether the order passed by the Tribunal is not vitiated by confirming the findings given by the Commissioner of Income-tax (Appeals) regarding addition of Rs. 2,38,575 credited in Molasses Storage and Maintenance Fund account ?"
4. Accordingly, the Tribunal is directed to draw up a statement of the case and refer the aforesaid questions of law to this court.