1. R.K. GULATI, J.--Upon hearing the parties, we are satisfied that the following question of law does arise out of the order passed by the Income-tax Appellate Tribunal: "(1) Whether in law and on the facts of the case, the Income-tax Appellate Tribunal was justified in arriving at a conclusion that only the net amount paid by the firm to a partner after adjusting interest paid by him to the firm should be disallowed under section 40(b) of the Income-tax Act, 1961, irrespective of the fact that the amount of interest is received by him in a capacity other than the capacity in which he paid interest to the firm or' is a partner in the firm?"
2. Accordingly, we direct the Income-tax Tribunal to draw up a statement of the case and refer the above question for the opinion of this Court. Parties shall bear their own costs.