Usar la funcion identity dentro de un SELECT

Solo puede ser usada con la clausula "INTO"

USE [AdventureWorks]
GO
SELECT IDENTITY (INT, 100, 5) AS NEW_ID, ContactID, Title, FirstName, MiddleName, LastName, EmailAddress, Phone
into #temp1
FROM Person.Contact

http://sqlwithmanoj.com/2011/12/15/using-identity-function-with-select-statement/