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Judgment
R.K. Gulati, J.—Having heard learned counsel for the assessee and learned standing counsel for the Department, in our opinion, the following questions of law do arise from the order of the Income tax Appellate Tribunal :
"Whether the order of the Tribunal is vitiated by failure to consider and decide all the questions relating to the taxability of the said sum of Rs. 43,78,875 which were left undecided by the Judicial Member for the reasons stated in his separate order and were decided only by the Accountant Member ?"
If the answer to the aforesaid question is in the negative :
"Whether, on the facts and in the circumstances of the case, there was a corresponding liability in favour of the customers for an equivalent amount which was allowable in the computation of the commercial profits of the assessee-company for the assessment year 1980-81 ?"
Accordingly, we direct the Income Tax Appellate Tribunal to draw up a statement of the case and refer the aforesaid question of law for the opinion of this court. The petition is allowed in part. The assessee will be entitled to costs which are assessed at Rs. 200.