Sinha, J.

1. These references are under Sec. 66(2), Income-Tax Act. As the questions involved in these cases are common, they will be dealt with by this judgment.

2. The following four questions were framed by this Court at the instance of the assessee, and the Tribunal has stated the case in regard to those questions.

"1. Whether in the facts and circumstances of the case the receipts of Bankura forest lease are capital receipts or, in the alternative, constitute agricultural income?

2. Whether in the facts and circumstances of the case the receipts from Kharagpur forest are agricultural income?

3. Whether the interest receipts from Babuana and Dayana grantees are agricultural income?

4. Whether the debt amounting to Rs. 23,541-owed by P. E. Guzadar & Co. should have been allowed as a loss relating to the business carried on by the assessee "

Questions 1, 2 and 3 are common in all the references, while question No. 4 arises only in respect of Miscellaneous Judicial Case No. 24 of 1951, which arises out of the order passed for the assessment year 1948-49 in Income Tax Appeal No. 1481 of 1949-50. So far as the first two questions are concerned, there is slight difference in