The correct answer is option 'A', which means that statement 1 is correct while statement 2 is not. Let's analyze each statement in detail to understand why.

1. Treaty of Amritsar was significant for its immediate as well as potential effects:

The Treaty of Amritsar was signed between the British East India Company and the Sikh Empire, represented by Maharaja Ranjit Singh, on 25th April 1809. This treaty was significant for its immediate effects as well as its potential long-term consequences.

Immediate Effects:
- The treaty established peace and friendship between the British and the Sikhs, ending the hostilities that had been ongoing between them.
- It recognized the sovereignty of Maharaja Ranjit Singh over his dominions, which included significant parts of present-day Punjab, Kashmir, and parts of Himachal Pradesh.
- The British agreed to respect Ranjit Singh's territories and not to interfere in his internal affairs.
- The treaty also allowed the British to maintain their military forces in the Sikh territories, which provided them with a strategic advantage in their expansionist policies.

Potential Effects:
- The Treaty of Amritsar laid the foundation for British influence and control in the Sikh Empire. While the British initially recognized Ranjit Singh's sovereignty, they gradually increased their interference in Sikh affairs and exerted more control over the region.
- The treaty also established a precedent for the British to negotiate with other Indian princely states and expand their dominion in the Indian subcontinent.
- It weakened the Sikh Empire by creating internal divisions and conflicts, which eventually led to its downfall in the Anglo-Sikh Wars of the 1840s.

Overall, the Treaty of Amritsar had immediate effects in establishing peace between the British and the Sikh Empire while also setting the stage for British expansion and control in the region. Its potential consequences included the gradual erosion of Sikh sovereignty and the eventual annexation of Punjab by the British.

2. It accepted the river Jhelum as the boundary line for Ranjit Singh's Dominions and the company's:

This statement is incorrect. The Treaty of Amritsar did not accept the river Jhelum as the boundary line for Ranjit Singh's dominions and the British East India Company. The treaty did not specify any specific boundary lines between the Sikh Empire and the British territories. Instead, it recognized Ranjit Singh's sovereignty over his dominions without delineating specific boundaries. The lack of defined boundaries in the treaty contributed to future conflicts and disputes between the British and the Sikhs.

In conclusion, statement 1 is correct because the Treaty of Amritsar had significant immediate effects and potential consequences. However, statement 2 is incorrect as the treaty did not accept the river Jhelum as the boundary line between Ranjit Singh's dominions and the British East India Company.