- (1.) THESE nine appeals, arise in identical circumstances, and involve common questions, and are, therefore, being decided by this common order.
(2.) BEFORE proceeding further, it may be observed, that in one of the appeals, being Appeal No. 53 of 2004, the appeal was admitted by framing two substantial questions of law as under: (1) Whether the learned Tribunal has erred in law in affirming the order of the CIT(A) deleting the addition made by the AO on account of life membership subscriptions received by the assessee treating the same as income and whether the finding of the learned Tribunal is perverse? (2) Assuming that the subscription received by the assessee was a capital receipt by way of deposit and the subscription of the subscriber was to be adjusted against the income arising out of the said deposit, whether the Tribunal was right in law in holding that interest which the assessee has shown accrued on the said deposits also does not form part of the income to the assessee merely on the ground that the assessee has not chosen to charge interest from the members of the partnership to whom the money had been advanced? While the other appeals have been admitted by framing only one substantial question of law, however, it is pointed out by the learned Counsel for the Revenue, that in the remaining appeals, applications have been filed by the Revenue, for framing additional question, in line of the question No. 2, framed in Appeal No. 53 of 2004. In such circumstances, instead of standing to ceremony, we have heard learned Counsel for either side, on both the questions.
(3.) THE facts, relevant for deciding the questions above are, that the assessee, a firm, was involved in the business of selling Yantras to customers, after being treated by Havan and Puja, and was also selling publication of monthly journal on the astrology, named as 'Mantra Tantra Yantra Vigyan', and was having huge number of subscribers. He was receiving Rs. 1,500, according to the Revenue, by way of subscription for the life membership, which sum received was directly shown in the balance sheet in liability side. Thus, this amount of Rs. 1,500 received by the assessee, from various persons, during the various number of years, comprised in these appeals, is the precise subject -matter of the controversy.;