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Depreciation on Stock / Commodity Exchange membership card

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This query is : Resolved

CA Ashish (Querist)

13 July 2010 Hi..
Can Depreciation be claimed on Commodity Exchange Membership Card??

Is there any judgement of high court which favour that depreciation can be claimed?

though the judgement of Bombay high Court in case of Techno shares does not favour the depreciation claim??

is there judgement of any high court which favour the depreciation??

What should be done finally whether depreciation on membership card can be claimed or not?

Aditya Maheshwari

Aditya Maheshwari (Expert)

13 July 2010 In view of the decision of the Bombay high Court in case of Techno shares depreciation is not allowable on BSE card.

However the same is being contested and i think an SLP has been filed before the supreme court on the same by the brokers.

However in my view it is a correct decision.

Now on Commodity Exchange Membership Card it is not a membership card. Only fees is paid for entrance into the exchange and hence the same is not considered to be a card and hence no depreciation admissible.

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