ADANI EXPORTS Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) These petitions arise in similar background. The assessee who is common in both the petitions has challenged separate notices issued by the respondent Assessing Officer seeking to reopen the petitioner's assessments for the assessment years 200809 and 200910. Facts being parallel, may be recorded from SCA No.3595 of 2016.

(2.) Petitioner is a partnership firm and is engaged in the business of manufacturing and exporting gold jewelery through a unit which is situated in Special Economic Zone ('SEZ' for short) Sachin, Surat. The petitioner claimed 100% deduction on the profits and gains derived from such business under section 10AA of the Income Tax Act, 1961 ('the Act' for short).

(3.) The petitioner had filed the return of income for the assessment year 200809 on 28.09.2008. The return was taken in scrutiny by the Assessing Officer who after detailed examination of the various claims made by the assessee framed scrutiny assessment under section 143(3) of the Act on 11.05.2010. The declaration of income as per the return was accepted.