bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1662 OF 2009 Castrol India Ltd. ..Appellant Vs. The Asstt. Commissioner of Income Tax ..Respondent Mr.A.K.Jasani for appellant. Mr.Suresh Kumar for respondent. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. DATE : 10th NOVEMBER,2009 P.C. 1. Heard. Perused appeal. Office objections are overruled. Office to register the appeal. 2. Appeal is admitted on the following substantial questions of law: i) Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that for the purpose of computing the deduction that was allowed to the appellant section 80IB of the Income Tax Act, the profits would have to be computed by deducting depreciation therefrom, even though the appellant had not preferred a claim for depreciation ? ii) Whether the Tribunal’s conclusion that the appellant had no option as to whether it could or could not claim depreciation when computing profits that were eligible for a deduction under Section 80 IB was justified in law ? 3. Learned Counsel for the respondent waives service. The appeal is taken up for hearing by consent of parties. 4. Learned Counsel for both the parties agree that the aforesaid questions should be answered in favour of the Revenue and against the assessee for the reasons recorded in Full Bench judgment of this Court dated 16 th October, 2009 delivered in ITXA No.1282 of 2007 in the case of Plastiblends India Ltd. Vs. Additional Commissioner of Income Tax & Anr. 5. In view of the above, both the questions are answered in favour of the Revenue and against the assessee. The appeal is disposed of accordingly with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)