https://www.taxtmi.com/caselaws?id=188248 The Tribunal found the Department's appeal not maintainable due to the tax effect being below the prescribed limit set by the CBDT. Regarding the disallowance of depreciation on membership rights of Multi Commodity Exchange Ltd., the Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the disallowance. The decision emphasized the significance of legal interpretations and judicial precedents in determining the allowability of depreciation on intangible assets like membership rights in commodity exchanges. en-us Wed, 07 May 2014 00:00:00 +0530 Wed, 23 Nov 2016 12:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188248 The Tribunal found the Department's appeal not maintainable due to the tax effect being below the prescribed limit set by the CBDT. Regarding the disallowance of depreciation on membership rights of Multi Commodity Exchange Ltd., the Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the disallowance. The decision emphasized the significance of legal interpretations and judicial precedents in determining the allowability of depreciation on intangible assets like membership rights in commodity exchanges. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188248