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Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI SHAMIM YAHYA, AM & SHRI RAM LAL NEGI, JM
O R D E R Per Bench: These are appeals by the assessee against the respective order of the ld. Commissioner of Income Tax (Appeals) for the above four assessment years. Since the issues are common and the appeals were heard together, these are being disposed of by this common order.
The common ground of appeal is that the ld. Commissioner of Income Tax (Appeals) erred in upholding the disallowance of deprecation on written down value of Bombay Stock Exchange membership card.
2 M/s. Rosy Blue Securities Pvt. Ltd. 3. In these cases, the assessing officer made a disallowance of deprecation claimed on the membership card of Bombay Stock Exchange as under: assessment year amount
2009-10 7,03,710 2010-11 5,27,783 2011-12 3,95,837 2012-13 2,96,878
While making the disallowance, the Assessing Officer noted that this issue was decided by the ITAT in assessee's own case in assessment year 2007 -08 against the assessee.
Upon assessee's appeal, the ld. Commissioner of Income Tax (Appeals) noted that ITAT has duly decided the issue against of the assessee and the assessee has filed an appeal before the Hon’ble High Court and the Hon’ble High Court had admitted the assessee's appeal. However, since the Hon’ble High Court has not decided the matter, the ld. Commissioner of Income Tax (Appeals) followed the order of ITAT and confirmed the disallowance of deprecation.
Against above order assessee is in appeal before us.
We have heard both the counsel and perused the records. Learned counsel of the assessee fairly agreed that the issue has been decided by the ITAT in assessee's own case against the assessee. Accordingly, in light of the above ITAT decision against the assessee, we uphold the order of the ld. Commissioner of Income Tax (Appeals).