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“BSE membership card”

DepreciationSection 32(1)(ii)Section 32(1)(ii)42 judgments

BANG EQUITY BROKING PRIVATE LIMITED,MUMBAI vs. ACIT-CIRCLE 4(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

ITA 7504/MUM/2025[2015-16]Status: DisposedITAT Mumbai16 Feb 2026AY 2015-16

Bench: SHRI ANIKESH BANERJEE (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

For Appellant: Shri Anant N. Pai, CAFor Respondent: Shri Leyaqat Ali Aafaqui (SR DR)
Section 143(3)Section 250Section 32Section 55

Assessing Officer in not allowing the cost of acquisition of the shares of BSE Ltd at the written down value of the erstwhile BSE Membership card of Rs. 2,33,70,555/- and Rs. 30,000/- paid to BSE Ltd at the time of allotment. The learned Commissioner (Appeals ... acquisition of the shares of BSE Ltd be taken at Rs, 4,65,47,000/- being the original cost of the erstwhile BSE membership card and not at its written down value. This alternate claim accords with the provisions of section 55 (2)(ab) and had been claimed

JCIT(OSD), CC-1, LKO, LUCKNOW vs. ACP TOLLWAYS PRIVATE LIMITED, LUCKNOW

In the result, the appeal filed by Revenue is dismissed and the Cross\nObjection filed by the assessee is partly allowed

ITA 131/LKW/2024[2021-22]Status: DisposedITAT Lucknow17 Oct 2025AY 2021-22
Section 143(2)Section 32

Shares and Stocks Ltd. v/s\nCIT,[2010]327/TR323(SC), the Hon'ble Supreme Court while examining\nthe assessee's claim of depreciation on BSE Membership Card, after\ninterpreting the provisions of section 32(1)(ii), held that as the\nmembership card allows a member to participate in a trading session ... Stocks Ltd.v/s CIT, [2010] 327\nITR 323(SC), the Hon'ble Supreme Court while examining the\nassessee's claim of depreciation on BSE Membership Card, after\ninterpreting the provisions of section 32(1)(ii), held that as the\nmembership card allows a member to participate in a trading\nsession

ADITYA BIRLA FINANCE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX - 2(1)(1), MUMBAI

In the result, the appeal is partly allowed

ITA 4821/MUM/2024[AY 2017-18]Status: DisposedITAT Mumbai08 Jul 2025
For Appellant: Shri Yogesh Thar & Ms. S.Jayaram, ARsFor Respondent: Shri Rajesh Kumar Yadav, (CIT DR)
Section 143(3)Section 32Section 43BSection 80G

goodwill as licensed/franchise. We find\nthat in the aforesaid decision the Hon'ble Supreme Court was dealing with the issue of\ndepreciation on BSE membership card under section 32(1)(ii) of the Act. Therefore,\nsame is not applicable to the facts of the present case. Before concluding

IIT INVESTRUST LIMITED ,MUMBAI vs. INCOME TAX OFFICER , 491)(2), , MUMBAI

Accordingly, we declined to\ninterfere in the order passed by the order passed by the CIT(A) and\nsame is sustained. As a result all the Grounds raised by the Assessee\nare dismissed

ITA 3420/MUM/2024[2008-09]Status: DisposedITAT Mumbai09 Jun 2025AY 2008-09
For Respondent: Ms. Vranda Matkari
Section 154Section 55(2)(ab)

claimed deduction in AY 2012-13.\nThe said claim was disallowed by the AO by taxing the same\nas STCG on sale of BSE membership card vide order u/s\n143(3) rws 147 dated 30/11/2017 and capital expenditure\nwritten off vide order u/s 143(3) rws 147 dated 16/12/2019\nfor

HAZARIBAGH RANCHI EXPRESSWAY LTD,MUMBAI vs. ACIT- CIR-14(1)(1), MUMBAI

ITA 3788/MUM/2023[2014-15]Status: DisposedITAT Mumbai17 Sept 2024AY 2014-15
For Appellant: Shri Bhupal RapelliFor Respondent: Shri Savya Sachi Kumar
Section 12Section 32Section 32(1)(ii)Section 32(1)(li)

Stocks Ltd (supra), the issue\nbefore the Hon'ble Supreme Court was whether the right of membership\nconferred upon a member under the BSE membership card was a “business\nor commercial right\", and thus, is a depreciable asset. Therefore, it is\nevident that in none of the aforesaid decisions

HAZARIBAGH RANCHI EXPRESSWAY LTD.,MUMBAI vs. ACIT, CIR-14(1)(1), MUMBAI

In the result, the appeal by the assessee for the

ITA 3787/MUM/2023[2013-14]Status: DisposedITAT Mumbai17 Sept 2024AY 2013-14
For Appellant: Shri Bhupal RapelliFor Respondent: Shri Savya Sachi Kumar
Section 12Section 32Section 32(1)(ii)Section 32(1)(li)

Stocks Ltd (supra), the issue\nbefore the Hon'ble Supreme Court was whether the right of membership\nconferred upon a member under the BSE membership card was a “business\nor commercial right\", and thus, is a depreciable asset. Therefore, it is\nevident that in none of the aforesaid decisions

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)

case of Techno Shares and Stocks Ltd. (supra), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

MERCK SPECIALITIES PRIVATE LIMITED,MUMBAI vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE 7(1)(1), MUMBAI

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3261/MUM/2022[2016-2017]Status: DisposedITAT Mumbai30 Oct 2023AY 2016-2017

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

goodwill as licensed/franchise. We find that in the aforesaid decision the Hon'ble Supreme Court was dealing with the issue of depreciation on BSE membership card under section 32(1)(ii) of the Act. Therefore, same is not applicable to the facts of the present case. Before concluding

MERCK SPECIALIITIES PRIVATE LIMITED,MUMBAI vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE 7(1)(1), MUMBAI

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3260/MUM/2022[2015-16]Status: DisposedITAT Mumbai30 Oct 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

goodwill as licensed/franchise. We find that in the aforesaid decision the Hon'ble Supreme Court was dealing with the issue of depreciation on BSE membership card under section 32(1)(ii) of the Act. Therefore, same is not applicable to the facts of the present case. Before concluding

DY.CIT, CIRCLE-7(1)(1, MUMBAI vs. M/S MERCK SPECIALITIES PRIVATE LIMITED, MUMBAI

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3198/MUM/2022[2015-16]Status: DisposedITAT Mumbai30 Oct 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

goodwill as licensed/franchise. We find that in the aforesaid decision the Hon'ble Supreme Court was dealing with the issue of depreciation on BSE membership card under section 32(1)(ii) of the Act. Therefore, same is not applicable to the facts of the present case. Before concluding

DY.CIT, CIRCLE-7(1)(1), MUMBAI vs. M/S MERCK SPECIALITIES PRIVATE LIMITED, MUMBAI

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3197/MUM/2022[2016-17]Status: DisposedITAT Mumbai30 Oct 2023AY 2016-17

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

goodwill as licensed/franchise. We find that in the aforesaid decision the Hon'ble Supreme Court was dealing with the issue of depreciation on BSE membership card under section 32(1)(ii) of the Act. Therefore, same is not applicable to the facts of the present case. Before concluding

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDHRA PRADESH EXPRESSWAY LTD, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 999/MUM/2023[2014-2015]Status: DisposedITAT Mumbai25 Aug 2023AY 2014-2015
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDRA PRADESH EXPRESSWAY LTD, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 998/MUM/2023[2013-2014]Status: DisposedITAT Mumbai25 Aug 2023AY 2013-2014
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

ANDHRA PRADESH EXPRESSWAY LTD,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX-10(1), MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1528/MUM/2023[2011-12]Status: DisposedITAT Mumbai25 Aug 2023AY 2011-12
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

ANDHRA PRADESH EXPRESSWAY LIMITED,MUMBAI CITY vs. INCOME TAX OFFICER, WARD 1(1)(1), MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1526/MUM/2023[2015-16]Status: DisposedITAT Mumbai25 Aug 2023AY 2015-16
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

M/S ANDHRA PRADESH EXPRESSWAY LIMITED,MUMBAI vs. ADDITIONAL/JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX/INCOME TAX OFFICER. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1525/MUM/2023[2018-2019]Status: DisposedITAT Mumbai25 Aug 2023AY 2018-2019
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDHRA PRADESH EXPRESSWAY LIMITED, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1523/MUM/2023[2018-2019]Status: DisposedITAT Mumbai25 Aug 2023AY 2018-2019
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDHRA PRADESH EXPRESSWAY LIMITED, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1522/MUM/2023[2011-2012]Status: DisposedITAT Mumbai25 Aug 2023AY 2011-2012
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDHRA PRADESH EXPRESSWAY LIMITED, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1521/MUM/2023[2015-2016]Status: DisposedITAT Mumbai25 Aug 2023AY 2015-2016
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

INCOME TAX OFFICER-1(1)(1), MUMBAI vs. ANDHRA PRADESH EXPRESSWAY LTD, MUMBAI

In the result, appeals of the assessee are partly allowed and appeals of the revenue are dismissed

ITA 1000/MUM/2023[2012-13]Status: DisposedITAT Mumbai25 Aug 2023AY 2012-13
For Appellant: Shri Ajay VohraFor Respondent: Ms. N. V. Nadkarni (DR)
Section 32(1)(ii)

Stocks Ltd. v/s CIT, [2010] 327 ITR 323 (SC), the Hon'ble Supreme Court while examining the assessee's claim of depreciation on BSE Membership Card, after interpreting the provisions of section 32(1)(ii), held that as the membership card allows a member to participate in a trading session

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