1 acd IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LODG.) NO. 2760 OF 2009 The Commissioner of Income Tax-4 ....Appellant. V/s. Kotak Securities Ltd. . ... Respondent. ---- Mr.Vimal Gupta, counsel for the Appellant. Mr. A.K. Jasani, for the Respondent. ---- CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 15TH DECEMBER, 2009 P.C. : 1. Objection overruled. The Registry to register the appeal. 2. Heard. Admit on the following substantial question of law: “ Whether on the facts and in the circumstances of the case and in law the Hon’ble Tribunal was right in holding that depreciation u/s 32 of the Income Tax Act amounting to Rs.21,39,277/- is allowable on the membership card of the Bombay Stock Exchange ? 2 3. Having heard both counsel for the parties, the appeal is allowed for the reasons recorded in our judgment in the case of CIT Vs M/s Techno Shares & Stocks Ltd. in Income Tax Appeal (L) No. 971 of 2006 decided by this Court on 11th 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.)