IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR ORDER IN D.B. Income Tax Appeal No.349/2009 Commissioner of Income Tax-I, New Central Revenue Building, Statue Circle, Jaipur Vs. M/s. Hem Securities Limited Date of Order ::: 20.10.2010 Present Hon'ble Mr. Justice Arun Mishra Hon'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 by decision of the Apex Court in Techno Shares and Stocks Limited Vs. Commissioner of Income Tax – (2010) 327 ITR 323 (SC), wherein it has been laid down that membership card of Bombay Stock Exchange is an intangible asset. The depreciation can be claimed thereon. In view of said decision of the Apex Court, the question stand answered against revenue. Accordingly we find no merit in this appeal and same is hereby dismissed. (Mohammad Rafiq) J. (Arun Mishra) J. //Jaiman//