Case Law › High Court › Commissioner Of Income Tax-I, Newcentral...

Commissioner Of Income Tax-I, Newcentral Revenue Building, Statuecircle, Jaipur v. M/S. Hemsecurities Limited

High Court 20 Oct 2010 In favour of: Assessee

Forum / Bench

High Court · jaipur

Parties

Date of order

20 Oct 2010

Assessment year(s)

—

Outcome

Dismissed

Case summary

In Commissioner Of Income Tax-I, Newcentral Revenue Building, Statuecircle, Jaipur v. M/S. Hemsecurities Limited, the High Court (2010) dismissed the appeal. The decision went in favour of the assessee.

Summary auto-generated from the order below — read the full judgment for the complete reasoning.

The order — as passed by the High Court

IN THE HIGH COURT OF JUDICATURE FOR RAJASTHANBENCH AT JAIPUR ORDERIN D.B. Income Tax Appeal No.349/2009 Commissioner of Income Tax-I, NewCentral Revenue Building, StatueCircle, Jaipur Vs. M/s. HemSecurities Limited Date of Order ::: 20.10.2010 Present Hon'ble Mr. Justice Arun MishraHon'ble Mr. Justice Mohammad Rafiq Shri Anuroop Singhi, Counsel for appellant Shri Sumit Bishnoi, Counsel for respondent #### By the Court:- Point raised in the matter is covered bydecision of the Apex Court in Techno Shares and–Stocks Limited Vs. Commissioner of Income Tax (2010) 327 ITR 323 (SC), wherein it has been laiddown that membership card of Bombay Stock Exchangeis an intangible asset. The depreciation can beclaimed thereon. In view of said decision of the Apex Court,the question stand answered against revenue. Accordingly we find no merit in this appealand same is hereby dismissed. (Mohammad Rafiq) J. (Arun Mishra) J. //Jaiman//

Facing a similar income-tax issue?

Our CA-led litigation team handles notices, scrutiny, penalties and appeals (CIT(A) & ITAT) end-to-end.

✅ File an income-tax appeal (CIT(A)/ITAT) → 💬 Ask our CA

This page reproduces a public-domain court order (Section 52(1)(q)(iv), Copyright Act 1957). Explanations are EaseValue's original analysis. Always read the original order.

Disclaimer: General information only — not legal, tax or professional advice, and no advocate/CA–client relationship is created. AI-generated summaries may contain errors and must be verified against the original court order. EaseValue accepts no liability for reliance on this content. Not a solicitation. Full disclaimer & Terms.