Itxa/1443/2009 Of E Commissioner Of Income-Tax-4,Mum v. M/S Brijmohan Sagarmal Capital

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1443 OF 2009 The Commissioner of Income Tax ..Appellant. V/s. M/s. Brijmohan Sagarmal Capital ..Respondent. Mr. Vimal Gupta for appellant. Mr. P.R. Toprani for respondent. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 11TH SEPTEMBER, 2009. P.C. :- 1.Heard learned counsel for the revenue and respondent. The appeal is admitted on the following substantial question of law:- " Whether in the facts and circumstances of the case and in law, the Tribunal is right in holding that the depreciation is allowable on the Bombay Stock Exchange Membership card held by the assessee ? " 2.By consent of parties, appeal is taken up for final hearing. 3.Having heard both counsel for the parties, appeal is allowed for the reasons recorded in the Division Bench judgment of this Court in IncomeTax Appeal (L) No.971 of 2006[CIT V/s. M/s. Techno Shares & Stocks Ltd.(with other matters)decided on 11[th] September, 2009. Accordingly, the question is answered in favour of the revenue and against the assessee. No order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA, J.)