Suhas Chandra Sen, J. - (1.) The Tribunal has referred the following questions of law under Section 25G(2) of the Income-tax Act, 1961 ("the Act"), to this court : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal had ignored relevant materials and relied on irrelevant and partly irrelevant materials to come to the finding that a sum of Rs. 38,550 and not Rs. 48,000 was paid or payable to the assessee as commission by the American Refrigeration Co. Ltd., and whether such finding of the Tribunal was unreasonable or perverse. (2) Whether, on the facts and in the circumstances of the case and on a correct interpretation of the agreement dated December 20, 1965, and having regard to the fact that as per the accounts of the American Refrigeration Company for the year ending April 30, 1966, a total sum of Rs. 1,20,000 was found payable on account of salary and commission of the managing director, the Tribunal's finding that the sum payable amounted only to Rs. 1,10,550 (i.e., salary of Rs. 72,000 and commission of Rs. 38,550) is based on any admissible evidence or is otherwise perverse. (3) Whether, on the facts and in the circumstances of the case and on a proper interpretation of the agreement dated December 20, 1965, between the American Refrigeration Company and the assessee, the Tribunal misdirected itself in law in holding that the term 'remuneration' appearing in Clause 5 of the said agreement would include perquisites and benefits mentioned in Sub-clauses (ii) to (vi) of Clause 4 of the said agreement."
(2.) The assessment year involved in this reference is the assessment year 1967-68 for which the corresponding accounting period is the financial year ending on March 31, 1967.
(3.) The assessee was the managing director of the American Refrigeration Co. Ltd. and was entitled to get salary, commission and other benefits from the company under an agreement entered into by and between the assessee and the company.;