( 1 ) THE Income-tax Tribunal Delhi Bench) (hereinafter referred to as Tribunal has referred the following two questions to this Court, under section 66 (1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act):-

"1. Whether on the facts and in the circumstances of the case, the sum of Rs. 5,349. 00 paid by the assessee to M/s. Ranbir Bros. , Kanpur was a business expenditure of revenue nature ? 2. Whether on the facts and in the circumstances of the case, the assessee s business of printing and publishing books was a newly established industrial undertaking entitled to the exemption from tax under section 15c of the Income-tax Act, 1922 ?"

( 2 ) THE facts relevant to the first question may briefly be stated : M/s. Naya Sahitya, Delhi, (hereinafter referred to as the assessee) is a registered firm carrying on business of publishing books. The assessee wanted to obtain recognition of the Himachal Pradesh Education Department for some of the textbooks published by it in order to enable the assessee to sell the text books in the territory of Himachal Pradesh. For this purpose, the assessee entered into an agreement with another firm, M/s. Ranbir Bro