https://www.taxtmi.com/caselaws?id=176711 The tribunal allowed the assessee's appeal regarding the depreciation claim on a stock exchange card for the assessment year 2007-08. Contrary to the CIT(A) and AO's decisions, the tribunal followed the Supreme Court's ruling that categorized the stock exchange card as a license eligible for depreciation under section 32(1)(ii). The tribunal overturned the earlier decisions and permitted the depreciation claim, ultimately ruling in favor of the assessee. en-us Tue, 29 Mar 2011 00:00:00 +0530 Mon, 28 Dec 2015 17:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176711 The tribunal allowed the assessee's appeal regarding the depreciation claim on a stock exchange card for the assessment year 2007-08. Contrary to the CIT(A) and AO's decisions, the tribunal followed the Supreme Court's ruling that categorized the stock exchange card as a license eligible for depreciation under section 32(1)(ii). The tribunal overturned the earlier decisions and permitted the depreciation claim, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 29 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176711