1. These nine appeals, arise in identical circumstances, are 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. 53/2004, 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 Commissioner of Income-tax (Appeals) deleting the addition made by the Assessing Officer on account of life member ship 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 arise 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 ?"

3. While