2012 (10) TMI 663

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.... a decision of the Income-tax Appellate Tribunal dated July 16, 2010. The assessment year to which the appeal relates is the assessment year 2002-03. The following questions of law have been raised by the Revenue :   "(i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing depreciation on the first stock exchange membership card purchased b....

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....t been accepted by the Revenue ? (iii) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the issue of bad debt is covered by the decision of the Special Bench in the case of Shreyas S.Morakhia [2010] 5 ITR (Trib) 1 ; [2010] 40 SOT 432 when the Revenue has not accepted the said decision and has filed an appeal against the said order in the ....

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....2005-06, the decision of the Tribunal dated August 26, 2008, has attained finality. The decision of the Tribunal, a copy of which is produced in the record, would indicate that in that case as well, the issue related to, inter alia, a membership card of the Bombay Stock Exchange purchased by the assessee during the year 1995-96. The Revenue having accepted the decision of the Tribunal for the asse....

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....penditure. (CIT v. Amway India Enterprises I. T. A. Nos. 1344 of 2009 and 1363 of 2009, decided on November 4, 2011) (since reported in [2012] 346 ITR 341 (Delhi)).   4. As regards question (iii), counsel appearing on behalf of the Revenue and counsel appearing on behalf of the assessee state that the issue is covered in favour of the assessee by a decision of the Division Bench of this co....