1. ' The Revenue has made this application under section 256(2) of the Income Tax Act, 1961, requiring us to direct the Income-tax Appellate Tribunal to refer the following two questions for an opinion of this Court: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in sustaining the order of the first appellate authority that the assessee, a salaried employee of the L.I.C., was entitled to deduction at 50 per cent. On the incentive bonus received from his employer?
(2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in holding that the assessee, a salaried employee of the L.I.C., of India, was entitled to deduction at 40 per cent under section 10(14) of the Income Tax Act, 1961, on the incentive bonus received from his employer?"
2. ' Inasmuch as only question No,1 arises from the Tribunal's Order which is a question of law, in our opinion, we direct the Tribunal to draw up a statement of the case and refer the above mentioned question No,1 to this Court for its opinion.
3. ' The application is, therefore, partly allowed. revisions by the competent authorities. Therefore, it is advisable to consult the official sources or legal professionals for the most up-to-date and accurate information.