SUHAS CHANDRA SEN, J.

( 1 ) THE assessee has sought for reference of as many as three questions but the Tribunal has referred only one question which was not exactly in terms of the language of the three questions raised by the assessee. The Tribunal has reframed the question and this question covers the entire controversy in this case. The question referred by the Tribunal under Section 256 (1) of the Income-tax Act, 1961, to this court is as follows :"whether, on the facts and in the circumstances of the case and on a correct interpretation of the provisions of Section 40 (c) (i) of the Income-tax Act, 1961, the Appellate Tribunal was right in upholding the disallowance of Rs. 1,13,000 being the excess over the limit of Rs. 72,000 laid down in the aforesaid provisions of the Act ?"

( 2 ) THE facts of the case as found by the Tribunal have been stated as under :"the assessee is a company and the relevant assessment year is 1972-73. The corresponding accounting period ended on March 31, 1972. The assessee regularly maintained accounts on the mercantile system. In the course of the relevant assessment proceedings, the Income-tax Officer noticed that the assessee-company paid commis

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