What is Techno Shares and Stocks Ltd. v. CIT authority for?

Membership rights and business contracts, as 'business or commercial rights of similar nature' to a license or franchise, qualify as intangible assets eligible for depreciation under Section 32(1)(ii) of the Income-tax Act.

How many judgments cite Techno Shares and Stocks Ltd. v. CIT?

130 judgments on BharatTax cite Techno Shares and Stocks Ltd. v. CIT (327 ITR 323), spanning 2012 to 2026.

Which sections of the Income Tax Act does Techno Shares and Stocks Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 1961, Section 32(1)(ii), Section 35(1)(i), Section 35(2AB), Section 90, Section 234D.

Techno Shares and Stocks Ltd. v. CIT (327 ITR 323)

Hyderabad Ring Road Project Private Limited, India vs. ACIT, Circle

In the result Appeal of the assessee in ITA No

ITA 4090/DEL/2025[2017-18]Status: DisposedITAT Delhi11 Mar 2026AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Chinu Bhasin, AdvFor Respondent: Shri Mahesh Kumar, CIT-DR

Section 143(3)

…e into consideration the decisions of Hon’ble Supreme Court and hon’ble Delhi Page 9 of 23 ITA No. 4090/DEL/2025 CO No. 81/DEL/2025 Hyderabad Ring Road Project Vs ACIT [A.Y. 2017-18] High Court in the following cases: (i)Techno Shares & Stocks v/s CIT, [2010] 327 ITR 323 (SC);(ii) CIT v/s Smifs Securities Ltd., [2012] 348 ITR 302 (SC)and (iii) Areva T. and D India Ltd. v/s DCIT, [2012] 345 ITR 421 (Delhi High Court). 18. The ld counsel of the assessee further distinguished the Madras High Court decision by stating that firstly, the scope of work in L & T Infrastructure Development Projects Ltd case was constructi…

ACIT, Circle - 10(1), Delhi vs. M/S Hyderabad Ring Road Project Private Limited, Delhi

In the result Appeal of the assessee in ITA No

ITA 3599/DEL/2025[2017-18]Status: DisposedITAT Delhi11 Mar 2026AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Chinu Bhasin, AdvFor Respondent: Shri Mahesh Kumar, CIT-DR

Section 143(3)

…e into consideration the decisions of Hon’ble Supreme Court and hon’ble Delhi Page 9 of 23 ITA No. 4090/DEL/2025 CO No. 81/DEL/2025 Hyderabad Ring Road Project Vs ACIT [A.Y. 2017-18] High Court in the following cases: (i)Techno Shares & Stocks v/s CIT, [2010] 327 ITR 323 (SC);(ii) CIT v/s Smifs Securities Ltd., [2012] 348 ITR 302 (SC)and (iii) Areva T. and D India Ltd. v/s DCIT, [2012] 345 ITR 421 (Delhi High Court). 18. The ld counsel of the assessee further distinguished the Madras High Court decision by stating that firstly, the scope of work in L & T Infrastructure Development Projects Ltd case was constructi…

Edgeverve Systems Limited, Bangalore vs. ACIT, Circle-2(2)(1), Bangalore

ITA 294/BANG/2025[2021-22]Status: DisposedITAT Bangalore30 Jan 2026AY 2021-22

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)

Section 250Section 254Section 37Section 90

…en required to start the business from scratch and undergo a long gestation period. 25.2 Relying upon the principles laid down by the Hon'ble Delhi High Court in Areva T & D India Ltd. 345 ITR 421 and the Hon'ble Supreme Court in Techno Shares and Stocks Ltd. 327 ITR 323, the learned CIT(A) held that business contracts form part of "business or commercial rights of similar nature” as envisaged under section 32(1)(ii) of the Act. These rights function as tools of trade which enable the assessee to carry on business without interruption. Accordingly, on merits, business contracts qualify as intangible assets eligib…

Edgeverve Systems Limited, Bangalore vs. ACIT, Circle-2(2)(1), Bangalore

In the result, both the appeals of the assessee are partly allowed for statistical purposes

ITA 293/BANG/2025[2020-21]Status: DisposedITAT Bangalore30 Jan 2026AY 2020-21

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)

Section 250Section 254Section 37Section 90

…en required to start the business from scratch and undergo a long gestation period. 25.2 Relying upon the principles laid down by the Hon’ble Delhi High Court in Areva T & D India Ltd. 345 ITR 421 and the Hon’ble Supreme Court in Techno Shares and Stocks Ltd. 327 ITR 323, the ITA Nos.290 - 294/Bang/2025 Page 19 of 53 learned CIT(A) held that business contracts form part of “business or commercial rights of similar nature” as envisaged under section 32(1)(ii) of the Act. These rights function as tools of trade which enable the assessee to carry on business without interruption. Accordingly, on merits, business c…

Edgeverve Systems Limited, Bangalore vs. ACIT, Circle-2(2)(1), Bangalore

In the result, both the appeals of the assessee are partly allowed for statistical purposes

ITA 292/BANG/2025[2019-20]Status: DisposedITAT Bangalore30 Jan 2026AY 2019-20

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)

Section 250Section 254Section 37Section 90

…en required to start the business from scratch and undergo a long gestation period. 25.2 Relying upon the principles laid down by the Hon’ble Delhi High Court in Areva T & D India Ltd. 345 ITR 421 and the Hon’ble Supreme Court in Techno Shares and Stocks Ltd. 327 ITR 323, the ITA Nos.290 - 294/Bang/2025 Page 19 of 53 learned CIT(A) held that business contracts form part of “business or commercial rights of similar nature” as envisaged under section 32(1)(ii) of the Act. These rights function as tools of trade which enable the assessee to carry on business without interruption. Accordingly, on merits, business c…

Edgeverve Systems Limited, Bangalore vs. ACIT, Circle-2(2)(1), Bangalore

ITA 291/BANG/2025[2018-19]Status: DisposedITAT Bangalore30 Jan 2026AY 2018-19

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)

Section 250Section 254Section 37Section 90

…en required to start the business from scratch and undergo a long gestation period. 25.2 Relying upon the principles laid down by the Hon'ble Delhi High Court in Areva T & D India Ltd. 345 ITR 421 and the Hon'ble Supreme Court in Techno Shares and Stocks Ltd. 327 ITR 323, the learned CIT(A) held that business contracts form part of “business or commercial rights of similar nature” as envisaged under section 32(1)(ii) of the Act. These rights function as tools of trade which enable the assessee to carry on business without interruption. Accordingly, on merits, business contracts qualify as intangible assets eligib…

Edgeverve Systems Limited, Bangalore vs. ACIT, Circle-2(2)(1), Bangalore

In the result, both the appeals of the assessee are partly allowed for statistical purposes

ITA 290/BANG/2025[2017-18]Status: DisposedITAT Bangalore30 Jan 2026AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)

Section 250Section 254Section 37Section 90

…en required to start the business from scratch and undergo a long gestation period. 25.2 Relying upon the principles laid down by the Hon’ble Delhi High Court in Areva T & D India Ltd. 345 ITR 421 and the Hon’ble Supreme Court in Techno Shares and Stocks Ltd. 327 ITR 323, the ITA Nos.290 - 294/Bang/2025 Page 19 of 53 learned CIT(A) held that business contracts form part of “business or commercial rights of similar nature” as envisaged under section 32(1)(ii) of the Act. These rights function as tools of trade which enable the assessee to carry on business without interruption. Accordingly, on merits, business c…

Sharp Business System Thr. Finance Director Mr. Yoshihisa Mizuno vs. Commissioner of Income Tax-III N.D

The appeals are hereby disposed of in terms of

C.A. No.-004072-004072 - 2014Supreme Court19 Dec 2025

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

Section 32(1)(ii)

…ship card of Bombay Stock Exchange is in the nature of license to trade. Hence, it is an intangible asset entitled to depreciation under Section 32(1)(ii) of the Act. Based on the aforesaid decision, he submits that depreciation is allowable on 5 (2010) 327 ITR 323 28 payment of non-compete fee as such payment results in acquisition of an intangible asset within the meaning of Explanation 3 to Section 32(1) of the Act. 12.11. Learned senior counsel therefore submits that firstly the expenses incurred by the assessee by way of non-compete fee is a revenue expenditure and therefore is an allowabl…

Shree Cement Limited, Bangur Nagar vs. ACIT, Central Circle, Ajmer

In the result, the appeal of the assessee - appellant in ITA No

ITA 1517/JPR/2024[2019-2020]Status: DisposedITAT Jaipur24 Jun 2025AY 2019-2020

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Shri Dilip B. Desai, FCAFor Respondent: Shri Arvind Kumar, CIT-DR

Section 115JSection 143(1)Section 254Section 36(1)(va)Section 80Section 801A

…gories of intangible assets as mentioned in Sec. 32(1)(ii), hence depreciation cannot be allowed on the same. The said decision of Hon’ble Bombay High Court has since been reversed by the Hon’ble Supreme Court in Techno Share & Stocks Ltd. –vs.- CIT (2010) 327 ITR 323 (SC), since we have gone through the decision of the Hon’ble Apex Court and it is noted that Hon’ble Apex Court held that said membership right is a business or commercial right which is similar to a license or franchise and is declared to be an intangible asset, eligible for depreciation u/s 32(1)(ii) of the Act. Ld. DR has also referred to t…

Asst. Commissioner of Income Tax 8(2)(1), Mumbai, Ayakar Bhavan vs. Piramal Glass Private Limited, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 1232/MUM/2024[2021-22]Status: DisposedITAT Mumbai27 Sept 2024AY 2021-22

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22 Asst. Cit-8(2)(1), Piramal Glass Pvt. Ltd., Room No. 481, Aayakar Bhavan, 6Th Floor, Piramal Tower Annexe Maharishi Karve Road, Vs. Ganpatrao Kadam Marg, Lower Mumbai-400020. Parel, Mumbai-400013. Pan No. Aabcg 0093 R Appellant Respondent

For Respondent: Mr. Ronak Doshi &

Section 36(1)(ii)

…cements ial pronouncements as well as the decision of Hon'ble Supreme Court in the case of Smifs as well as the decision of Hon'ble Supreme Court in the case of Smifs as well as the decision of Hon'ble Supreme Court in the case of Smifs Securities Pvt. Ltd., 327 ITR 323, allowed the depreciation on non Ltd., 327 ITR 323, allowed the depreciation on non- compete fees after having the following observations: compete fees after having the following observations:- "19. Now coming to the claim for depreciation "19. Now coming to the claim for depreciation on non-compete fee, we compete fee, we found that after paying…

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Kilpauk

The appeals of the Revenue stand dismissed

ITA 9/CHNY/2022[2012-13]Status: DisposedITAT Chennai26 Jul 2024AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…is relatable to the transfer of trade mark, copy rights and patents. Therefore, the view taken by the Commissioner of Income Tax(Appeals) in this regard is acceptable. 23. In the case of Techno Shares and Stocks Ltd vs. Commissioner of Income Tax reported in 327 ITR 323 (SC), the assessee therein before the Hon’ble Apex Court claimed depreciation on the membership card held by it with the Bombay Stock Exchange enables it to trade on the floor, is a business or commercial right in the nature of a licence under Section 32 (1)(ii) of the Act. 24. The Department on the other hand, pointed out that membership is a pe…

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Chennai

The appeals of the Revenue stand dismissed

ITA 11/CHNY/2022[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…is relatable to the transfer of trade mark, copy rights and patents. Therefore, the view taken by the Commissioner of Income Tax(Appeals) in this regard is acceptable. 23. In the case of Techno Shares and Stocks Ltd vs. Commissioner of Income Tax reported in 327 ITR 323 (SC), the assessee therein before the Hon’ble Apex Court claimed depreciation on the membership card held by it with the Bombay Stock Exchange enables it to trade on the floor, is a business or commercial right in the nature of a licence under Section 32 (1)(ii) of the Act. 24. The Department on the other hand, pointed out that membership is a pe…

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Limited, Chennai

The appeals of the Revenue stand dismissed

ITA 10/CHNY/2022[2014-15]Status: DisposedITAT Chennai26 Jul 2024AY 2014-15

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…is relatable to the transfer of trade mark, copy rights and patents. Therefore, the view taken by the Commissioner of Income Tax(Appeals) in this regard is acceptable. 23. In the case of Techno Shares and Stocks Ltd vs. Commissioner of Income Tax reported in 327 ITR 323 (SC), the assessee therein before the Hon’ble Apex Court claimed depreciation on the membership card held by it with the Bombay Stock Exchange enables it to trade on the floor, is a business or commercial right in the nature of a licence under Section 32 (1)(ii) of the Act. 24. The Department on the other hand, pointed out that membership is a pe…

Principal Commissioner of Income Tax -3, Kolkata vs. M/S. Itc Limited

Appeal is allowed to the extent indicated

ITA/125/2018HC Calcutta27 Jun 2024

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

…A.F.R Page 1 of 77 IN THE HIGH COURT OF JUDICATURE AT CALCUTTA SPECIAL JURISDICTION ORIGINAL SIDE RESERVED ON: 15.05.2024 DELIVERED ON: 27.06.2024 PRESENT: THE HON’BLE MR. JUSTICE SURYA PRAKASH KESARWANI AND THE HON’BLE MR. JUSTICE RAJARSHI BHARADWAJ ITA 125 of 2018 PRINCIPAL COMMISSIONER OF INCOME TAX-3, KOLKATA VERSUS M/S. ITC LIMITED Appearance: Mr. Omnarayan Rai, Adv. Mr. Prithu Dudhoria, Adv. …..for the Appellant Mr. J. P. Khaitan, Sr. Adv. Ms. Nilanjana Banerjee Pal, Adv.…

Kurukshetra Expressway Pvt Ltd, Rewari vs. DCIT Circle, Rewari

The appeal of the assessee is allowed for statistical purposes

ITA 9544/DEL/2019[2014-15]Status: DisposedITAT Delhi06 Jun 2024AY 2014-15

Bench: Shri M Balaganesh & Shri Vimal Kumarasstt. Year: 2014-15

For Appellant: Shri Neeraj Jain, AdvocateFor Respondent: Ms. Anu Krishna Aggarwal

Section 143(2)Section 143(3)

…hts in the nature of license, franchise, membership have been held to be intangible assets eligible for depreciation under section 32(1)(ii) of the Act. Reliance in this regard was placed on the following decisions:- Techno Shares & Stocks Lad. vs. CIT [2010] 327 ITR 323 (SC); CIT vs. Smifs Securities Ltd. [2012] 348 ITR 302 (SC)). ACIT vs. Progressive Construction Ltd. [2018) 63 ITR (T) 516 (Hyd.) Special Bench. - Pune Solapur Expressway P. Ltd. vs. ACIT ITA No. 3326/Del/2018 decided on 10.11.2021 - Gwalior Bypass Projects Ltd. vs. ACIT ITA No. 1297/Del/2019 (Delhi Trib) decided on 26.7.2022 - BSC C&C Kurali To…