IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 42 OF 2002 THE COMMISSIONER OF INCOME TAX ... Appellant Versus M/S VICCO LABORATORIES & ANR ... Respondent Ms. A. Dessai, Advocate for the appellant. Mr. V. A. Lawande, Advocate for respondent no.1. Coram:- D. G. KARNIK & F. M. REIS, JJ. Date:- 30th August, 2010 P.C. Heard both learned counsel for the parties. 2. By Order dated 8.7.2002, the Division Bench admitted this appeal on following substantial question of law:- " Whether the ITAT was justified in law in ignoring the depreciation of Rs.15,84,696/- under section 32 of the Income Tax Act, while allowing deductions under sections 80(1A) to the Assessee?" 3. In our view matter is covered by the decision of the full bench in case of Plastiblends India Limited Vs. Additional Commissioner of Income Tax and others. The full bench held that quantum of deduction allowable under section 80-IA of the Income Tax Act has to be determined by computing the total income from the business after taking into consideration all deductions allowable under section 30 to 43D of the Income Tax Act. The full bench has further held that whether the assessee had claimed the deductions allowable under section 30 to 43D of the Income Tax Act or not, the quantum of deduction under section 80-IA has to be determined on the total income computed after deducting all deductions allowable under section 30 to 43D of the Act. 4. In view of decision of the Full Bench, the question is answered in favour of the Revenue and against the assessee. We accordingly set aside the judgment of the ITAT and up hold and restore the order of assessment and confirmed by CIT (Appeal)vide his order dated 25.5.2001. Order accordingly. D. G. KARNIK, J. F. M. REIS, J. vn