1. - The Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (for short "the Tribunal" herein), has referred the following questions for our decision:

"1. Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that on account of violation by the partners of the firm of sub-rule (4) of rule 63 of the Rajasthan Excise Rules, 1956, firm valid in law has not come into existence in view of the provisions of section 23 the Indian Contract Act, 1872 ?

2. If the answer to the aforesaid question is in the affirmative, whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that the benefit of continuation of registration granted to the applicant firm earlier by the Income-tax Officer could be cancelled by him under section 186 of the Income-tax Act, 1961, in respect of assessment year 1967-68 ?

3. Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that on account of violation by the partners of the firm of sub-rule (4) of r. 63 of the Rajasthan Excise Rules, 1956, a firm valid in law has not come into existence in view of the provisions of section 23 of the