( 1 ) IN this statement of the case on the income-tax reference under Section 66 (1) of the Indian Income-tax Act, 1922, the following questions have been raised :" 1. Whether, on the facts and in the circumstances of the case, the assessee's claim for the exchange loss of Rs. 11 lakhs for the assessment year 1957-58 and Rs. 5,50,000 for the assessment year 1959-60 in respect of remittances of profit from Pakistan was not allowable as a deduction ?2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that law charges amounting to Rs. 1,170 and Rs. 3,573 incurred in respect of business profits tax appeals for the assessment years 1957-58 and 1959-60 were not allowable as deductions ?3. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that law charges of Rs. 2,551 incurred for effecting changes in the existing managing agency agreement were not allowable as a deduction for the assessment year 1957-58 ?4. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that interest amounting to Rs. 5,236 paid on funds invested in shares which produ