Depreciation charge must to Claim Section 80IB Deduction

Betts India (P) Ltd. Vs. ACIT (Bombay High Court) The issue under consideration is whether depreciation is mandatory to be granted while determining the Appellant’s entitlement to the deduction under Section 80IB of the Act, even though the Appellant had not claimed such depreciation? High Court states that, 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 compu...