Held, that the issue involved in the present case is no more res integra and was covered against the revenue and in favour of the Assessee by the judgment of the Hon'ble Supreme Court in Techno Shares & Stocks Ltd. v. CIT since reported in (2010) 327 ITR 323 (SC) wherein it has been held that on the facts and circumstances of these cases the Tribunal was right in holding that depreciation was allowable on the cost of the membership card under section 32(1)(ii) of the 1961 Act. Following the respective authoritative pronouncement of the Hon'ble Apex Court, the Miscellaneous Application filed by the revenue was rejected.
