- (1.) UPON hearing learned counsel for the parties, we are of the view that a question of law does arise from the Tribunal's order. We, therefore, direct the Tribunal to draw up a statement of the case and refer the following reframed question for the opinion of this Court : "Whether, on the facts and circumstances of the case, the Tribunal was legally correct in holding that the interest paid to the HUF of Shri Jageshwar Dayal who was a partner in his individual status, by the firm, was not allowable ?"
(2.) THE application is partly allowed.;