Case Law Details
Case Name : Madhur Shares & Stock Pvt. Ltd. Vs. ACIT (ITAT Ahemdabad)
Related Assessment Year : 2001- 02
Courts :
All ITAT ITAT Ahmedabad
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DECIDED BY: ITAT `B’ BENCH, AHMEDABAD
IN THE CASE OF: Madhur Shares & Stock Pvt. Ltd. Vs. ACIT
APPEAL NO: ITA Nos. 615/Ahd/2005 and 704/Ahd/2005,
DECIDED ON May 31, 2005
ORDER
PER SHRI D.C. AGRAWAL.
These are the two appeals for the assessment year 2001-02 arising from the order of Ld. C.I.T.(A) dated 24-12-2004, one filed by the assessee and the other filed by the Revenue. ITA.615-704-05 A.Y.01-02
2. Since common issues and arguments are involved they are taken up together for the sake of convenience.
3. In the Departmental appeal following grounds are raised :-
1....
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Hi,
I also agree with mr.Margesh. Depn is allowable on membership card also.
Mr.Margesh, the citation is Techno Shares and Stocks Ltd V. CIT;(2010)9 SCC 410.
Admn may delete the out dated decision and instead publish latest one decided by Supreme Court in the above case.
Kindly forward me Supreme Court Judgement in above subject.
This is an old order of 31.05.2010 and appears to be outdated. Subsequently the Supreme Court has held that membership of S/E was an intangible asset eligible for depreciation allowance.Therefore, this order may be withdrawn from the website.
However, on close reading editors may check whether SC judgment will apply in this case or the facts are different.