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TMI Blog2019 (11) TMI 604X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;ble Apex Court in the case of Distributors (Baroda) P. Ltd. vs. Union of India [ 1985 (7) TMI 1 - SUPREME COURT] . Upon analysis of the legal position, the Full Bench concluded that for the purposes of deduction under Chapter VIA, the gross total income has to be computed inter alia by deducting the deductions allowable under Section 30 to 43D of the Act, including depreciation allowable under Section 32 of the Income Tax Act, even though the Assessee may have computed the total income under Chapter IV by disclaiming the current depreciation. This, according to us, affords a full answer to the substantial question of law, now pressed in this Appeal. - Decided in favour of revenue - TAX APPEAL NO.15 OF 2009 - - - Dated:- 5-11-2019 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relies upon the decision of yet another Division Bench of this Court in Scoop Industries Pvt. Ltd. vs. I.T.O. Ors. 289 ITR 195 (Bom.). She further points out that by order dated 19/12/2008 in Income Tax Appeal No.1282/2007, another Division Bench of this Court noticed conflict between the decisions in the case of Grasim Industries Limited vs. ACIT 245 ITR 677 (Bom) and Scoop Industries Pvt. Ltd. (supra) and, therefore, directed that the matters be placed before the Hon'ble the Chief Justice for reference to a Full Bench. Ms. Kamat submits that if the Full Bench were to decide that the law laid down in Scoop Industries Pvt. Ltd. (supra) is no longer a good law then, the substantial question of law pressed for by her will h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... several adjournments. 9. From the perusal of the Judgment and Order dated 16.10.2009 in Income Tax Appeal No.1282/2007, it is apparent that the Full Bench has held that there is really no conflict as such in the decisions of this Court in the cases of Grasim Industries Limited (supra) and Indian Rayon Corporation Ltd. vs. CIT 261 ITR 98 (Bom) which is in fact the decision followed in Scoop Industries Pvt. Ltd. (supra). The Full Bench has held that the ratio laid down in both the cases, is in consonance with the ratio laid down by the Hon'ble Apex Court in the case of Distributors (Baroda) P. Ltd. vs. Union of India 155 ITR 120 (SC). Upon analysis of the legal position, the Full Bench concluded that for the purpo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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