B.P. Jeevan Reddy, CJ.

1. In this case, eight questions are referred to this court, seven at the instance of the Revenue and one at the instance of the assessee. The eight questions are as under :

"1. Whether, on the facts and in the circumstances of the case, the Tribunal was in law justified in holding that the interest payable on the outstanding amount of cane purchase tax was allowable expenditure in computing the total income of the assessee-company in respect of the assessment years 1971-72 and 1972-73 ?

2. Whether, on the facts and in the circumstances of the case the Tribunal was in law justified in holding that the assessee was entitled to development rebate at a higher rate of 35% as against 20% allowed to the assessee in respect of the assessment year 1971-72 ?

3. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in taw in deleting the Appellate Assistant Commissioner's direction to the Income-tax Officer to reconsider the allowability of Rs. 4,76,966 paid for bonus and allowed by the Income-tax Officer for the assessment year 1972-73 ?

4. Whether the Tribunal was in law justified in holding that, besides the allowance of Rs. 4,76