- (1.) Six questions were sought to be got referred by the Tribunal at the instance of the Revenue. In regard to questions Nos. 2 to 5, the Tribunal refused to refer. In regard to question No. 1 a reference was made. In regard to the sixth question a reference was made also, but after the Tribunal had reframed the question itself.
(2.) The first question referred is as follows ; "Whether, on the facts and in the circumstances of the case, the learned Tribunal was justified in deleting the disallowance of Rs. 92,219 made under Rule 6D of the Income-tax Rules read with Section 37(3) of the Income-tax Act, 1961."
(3.) The sixth question as reframed and referred to us by the Tribunal is as follows : "Whether, on the facts and in the circumstances of the case, and having regard to the Modvat scheme of excise duty, the Tribunal was right in law in deleting the addition by the Assessing Officer to the value of the closing stock.";