AJIT K. SENGUPTA, J.

( 1 ) IN this reference under Section 256 (1) of the I. T. Act, 1961, at the instance of the assessee, the following questions, have been referred for the assessment year 1974-75 :"1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum of Rs. 1,94,776 being cash assistance on exports are liable to be assessed as revenue receipts ?

( 2 ) WHETHER, on the facts and in the circumstances of the case, the Tribunal is right in holding that expenses on freight, loading charges, insurance, etc. , incurred in connection with the export business, were not entitled to weighted deduction under Section 35b of the Income-tax Act, 1961?

( 3 ) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in holding that for the purpose of computing the capital employed for granting deduction under Section 80j of the Income-tax Act, 1961, the value of assets should be taken at the written down value and not at the original cost to the assessee ?

( 4 ) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in holding that the liability for gratuity of Rs. 56,025 is not an allo

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