1. These references relate to the assessment of M/s. India Pepper and Spice Trade Association, for the assessment years 1959-70,1970-71 and 971-72. The appeals before the Tribunal relating to the assessment for the above years were disposed of by a common order and it was found by the Tribunal that the assessee was entitled to exemption under S.11 of the Income-tax Act, 1961, for short the Act, in regard to certain disputed items of income. The view of the Tribunal was contended by the department to be erroneous in law and applications were made before the Tribunal for a reference to this Court and the Tribunal has stated a case and referred the following questions:

1. Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the income of the assessee is exempt under S.11 of the Income-Tax Act 1961?

2. Whether on the facts and in the circumstances of the case, the Appellate Tribunal is justified in law in holding that the provisions of S.28 (iii) are not applicable to the facts of the case?"

2. The order of the Tribunal is Annexure D' and Para.6, 7 and 8 have dealt with the particular aspects which arose for con