IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX REFERENCE NO. 629 OF 1998 TAX REFERENCE NO. 629 OF 1998 TAX REFERENCE NO. 629 OF 1998 The Commissioner of Income-tax. ... Applicant. V/s. M/s.Oil & Seeds Importers Association of India. ... Respondent. A.S.Rao for the Applicant. S.J.Mehta for respondent. CORAM CORAM CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED DATED DATED : 29th March, 2005. : 29th March, 2005. : 29th March, 2005. P.C. P.C. P.C. : : : ---- ---- ---- . Heard learned counsel for the applicant. The tribunal has referred following question for the opinion of this Court: "Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the subscription received by the assessee- association from its members was not liable to tax? 2. The above question has already been answered by the Apex Court in the case of C.I.T. v. Bankipin C.I.T. v. Bankipin C.I.T. v. Bankipin Club Club Club Ltd. Ltd. Ltd., (1993) 226 ITR 97 (SC) and Chelmsford Chelmsford Chelmsford Club Club Club v. v. v. C.I.T. C.I.T. C.I.T., (2000) 243 ITR 89 (SC) in favour of assessee and against the the revenue. In this view of the matter, the question referred is answered in affirmative for the reasons stated in the above referred judgment. . Reference stands disposed of accordingly with no order as to costs.