- (1.) Twelve questions have been referred for answering and those are as follows : "1. Whether, on the facts and in the circumstance of case and in view of the facts disclosed by the letter of the assessee dated February 28, 1985, and June 14, 1985, referred to in the order of the Commissioner, the findings of the Tribunal that there is no iota of evidence to support the conclusion of the Commissioner that the directors of the assessee-company were interested in the eleven concerns whose debts were taken over by Eastern Tyre Sales Agency and that the take over was necessitated to avoid the provisions of Section 295 of the Companies Act. 1956, is based on any evidence or perverse ?
(2.) Whether, on the facts and in the circumstances of the case and in view of the fact that the assessee-company was showing these debts, under the head 'Loans and advances' in its books of account from the assessment year 1967-68 to 1984-85 assessment year, the finding of the Tribunal that the assessee-company all along claimed that these were trade debts : is based on any evidence or perverse ?
(3.) Whether, on the facts and in the circumstances of case and in view of the entries made in the books of account of the assessee from the assessment years 1967-68 to 1984-85, the finding of the Tribunal that the case is on the Commissioner to establish that they were loans and advances and since the Commissioner did not examine the record beyond 1967-78(?), the Tribunal have to accept the claim of the assessee's counsel that they were trade-debts, is based on any principle of law or perverse ?;