Itxa/571/2011 Of M/S.icici Securities Limited v. Dy.commissioner Of Income Tax, Range-4(1) And 1 Anr

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.571 OF 2011 ICICI Securities Ltd. ..Appellant. V/s. Dy. Commissioner of Income Tax-40(1), Mumbai ..Respondent. Ms. A. Vissanji with S.J. Mehta for the appellant.Mr. Vimal Gupta for the respondent. CORAM : J.P. DEVADHAR AND K.K. TATED, JJ.DATED : 21ST OCTOBER, 2011 P.C. :- 1.Heard. The appeal is admitted on the following question of law :- " Whether the Tribunal was right in law in denying depreciation to the appellant on the BSE and NSE Stock Exchange cards ? " 2.Counsel for the parties state that the above question stands answer in favour of the appellant-assessee by the Apex Court in the case of Techno Shares and Stocks Ltd. V/s. CIT reported in [2010] 327 ITR 323 (SC). Accordingly, the question is answered in favour of the appellant-assessee and against the revenue. The appeal is disposed off accordingly with no order as to costs. (K.K. TATED, J.) (J.P. DEVADHAR, J.)