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Case Law Details

Case Name : CIT Vs Techno Shares & Shares Limited and Various other Stock Broking Houses (Bombay High Court)
Related Assessment Year :
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Recently, the Bombay High Court in the case of CIT v. Techno Shares & Shares Limited and Various other Stock Brooking Houses (ITA No. 971 of 2006 and 218 of 2007) held that the depreciation cannot be granted on Bombay Stock Exchange Membership Card (BSE card) acquired on or after 1 April 1998 either by nomination or directly through the stock exchange.

Facts of the case

  • The taxpayers owning a BSE card acquired on or after 1 April 1998 either by nomination or direct

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