( 1 ) THIS reference under Section 256 (1) of the I. T. Act, 1961, relates to the assessment year 1973-74. The Tribunal has referred to this court the following two questions, one at the instance of the assessee and the other at the instance of the Revenue :"1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum of Rs. 66,666 should be allowed as a deductible revenue expenditure in computing profits and gains of the assessee's business during the accounting year relevant to the assessment year 1973-74 ? 2. Whether, on the facts and in the circumstances of the case, when the amount of Rs. 5,07,903 had not been transferred to a fund and the concerned amount had not gone irretrievably out of the coffers of the assessee having regard to the provisions of section 40a (7) of the Act with retrospective effect from 1st April, 1973, the Tribunal was right in disallowing the claim under the provisions of the Income-tax Act, 1961 ?"

( 2 ) SO far as the second question is concerned, which is at the instance of the Revenue, it must, in view of the decision of this court in the case of People's Engineering and Motor