M. R. A. ANSARI, J.

( 1 ) THE following two questions have been REFERRED TO to this Court by the Income-tax Appellate Tribunal, Delhi Bench, (hereinafter REFERRED TO to as the Tribunal) under section 66 (1) of the Indian Income-tax Act, 1922 (hereinafter REFERRED TO to as the Act:- 1. Whether on the facts and in the circumstances of the case, the loss of Rs. 66,417. 00 was allowable under section 10 (1) of the Indian Income-tax Act, 1922 or could be set off against the company s profits of the business under proviso (a) to Explanation 2 of section 24 (1) of the said Act? 2. Whether on the facts and in the circumstances of the case, Rs. 52,633. 00 claimed as business expenditure for assessment year 1957-58 and Rs. ll,578. 00 claimed as such for assessment year 1958-59 under section 10 (2) (xv) of the Indian Income-Tax Act, 1922, have rightly been disallowe ?

( 2 ) THE facts relevant to the first question may now be stated. M/s. Delhi Flour Mills Co. Ltd. , New Delhi, (hereinafter REFERRED TO to as the assessee) carried on the following businesses:- 1. Grinding of wheat for manufacturing atta and wheat products. 2. Manufacturing of ice and maintaining a cold storage. 3. Washing, calen

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