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“BSE membership card”

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

The decision most relied on for BSE membership card is Techno Shares & Stocks Ltd. v. CIT-IV (193 Taxmann 248), cited in 40 judgments on BharatTax.

Leading authorities on BSE membership card

Techno Shares & Stocks Ltd. v. CIT-IV
193 Taxmann 248 · 2010 · Supreme Court
40
citing judgments

The Supreme Court in Techno Shares & Stocks Ltd. v. CIT-IV held that depreciation is not available on a BSE membership card under section 32(1)(ii) of the Income Tax Act as it is not a depreciable asset for the purpose of business or commercial rights of a similar nature.

Judgments citing BSE membership card

Bsc C&C Kurali Toll Road Ltd., New Delhi vs. DCIT, New Delhi

In the result, both appeals of the assessee are partly allowed

ITA 1593/DEL/2017[2013-14]Status: DisposedITAT Delhi18 May 2021AY 2013-14

Bench: Shri G.S. Pannu & Shri Kul Bharat

Section 143(3)

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

Bsc C&C Kurali Toll Road Ltd., New Delhi vs. DCIT, New Delhi

In the result, both appeals of the assessee are partly allowed

ITA 1592/DEL/2017[2012-13]Status: DisposedITAT Delhi18 May 2021AY 2012-13

Bench: Shri G.S. Pannu & Shri Kul Bharat

Section 143(3)

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