( 1 ) THE Revenue is before us in the light of the following questions of law framed by the Tribunal in the light of the order of the Tribunal passed in ITA No. 2020, 2021 and 2022/1990: 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the guarantee commission paid to Sr. Vijay Mallya, the Chairman/director of the company, was not covered by the provisions of Section 40 (c) of the Income-tax Act, 1961 as it then existed?

( 2 ) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the disallowance of the amounts of depreciation, insurance premium rent on furniture relating to the residential accommodation 'niladri' on the ground that in as much as the expenses were not allowable specifically Under Section 37 (1) of the Income-tax Act, the provisions of section 37 (4) would not apply thereto?

( 3 ) WHETHER on the facts and in the circumstances of the case, the Tribunal was right in holding that expenses relating to the building 'niladri' at Bombay were allowable as expenses incurred for the purpose of the business of the assessee, even though it had been found