ARUN EXCELLO FOUNDATIONS PRIVATE LTD Vs. CIT

JUDGEMENT

(1.) HEARD the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent.

(2.) THIS writ petition has been filed praying that this Court may be pleased to issue a Writ of Certiorari to call for and quash the impugned notice, dated 25.3.2011, issued under Section 148 of the Income Tax Act, 1961, (hereinafter referred to as 'the Act') and the consequential proceedings, dated 28.9.2011, issued by the respondent, rejecting the objections raised by the petitioner, against the re-opening of the assessment, in respect of the assessment year 2004-2005, under Section 147 of the Act.

(3.) IT had been further stated that the respondent, after scrutinizing the entire records, including the agreement, had completed the assessment, by an order, dated 27.3.2006, issued under Section 143(3) of the Act, disallowing the entire exemption relating to the deduction, under Section 80IB(10) of the Act. Aggrieved by the said order, the petitioner company had filed a first appeal, before the Commissioner of Income Tax (Appeals), who had confirmed the order of the respondent. Thereafter, the petitioner company had filed a further appeal, before the Income Tax Appellate Tribunal. The Income Tax Appellate Tribunal had passed an order, dated 16.2.2007, in ITA No.2091/Mds/2006, partly allowing the appeal. The Commissioner of Income Tax had filed an appeal against the said order, under Section 260A of the Act, before this Court, in T.C.No.1349 of 2007, and the said case is still pending on the file of this Court. As such, the question as to whether the petitioner company is entitled to claim deduction, under Section 80IB (10) of the Act, is to be decided by a Division Bench of this Court. While so, the respondent had issued a notice, under Section 148 of the Act, to the petitioner company, in respect of the assessment year 2004- 2005. The said notice, dated 25.3.2011, had been received by the petitioner company, on 5.4.2011.