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Section 80-IA, read with sections 147 and 148 of the Income-tax Act, 1961 - Deductions - Profits and gains from infrastructure undertakings - Assessment year 2005-06 [In favour of assessee] CASES REFERRED TO GKN Driveshafts (India) Ltd. v. ITO [2003] 259 19 (SC) and Sadbhav Engg. Ltd. v. Dy. CIT [2011] 333 ITR 483(Guj.). Saurabh N. Soparkar, Monaal J. Davawala and Mrs. Swati Soparkar for the Petitioner. Mrs. Mauna M. Bhatt for the Respondent. JUDGMENT Akil Kureshi, J - Rule. Mrs. Mauna M. Bhatt waives service of rule on behalf of the respondent. 2. Looking to the controversy involved, we have heard learned counsel or the parties for final hearing of the petition today itself. 3. The petitioner is a company registered under the provisions of the Companies Act. It is regularly assessed to tax under the Income-tax Act, 1961. For the assessment year 2005-06, the assessee filed its return of income declaring total income of Rs. 2.04 crores (rounded off). In the return filed, the assessee had claimed deduction of Rs. 2.22 crores under section 80-IA of the Act and also of Rs. 3.82 crores under section 80-IB of the Act. The petitioner, however, subsequently filed a revised return and revised its total income to Rs. 2.87 crores claiming deduction of Rs. 2.11 crores under section 80-IA of the Act and Rs. 3.10 crores under section 80-IB of the Act. 4. Such return of the income filed by the assessee was taken in scrutiny by the Assessing Officer. It is the case of the petitioner that besides others, the claim of deduction under section 80-IA and section 80-IB of the Act came up for consideration before the Assessing Officer during such scrutiny. After a thorough scrutiny the Assessing Officer granted the deduction, particularly, that claimed by the assessee in its revised return with respect to section 80-IA of the Act. 5. The Assessing Officer thereafter issued a notice on March 16, 2011, stating that he had reason to believe that income chargeable to tax for the assessment year 2005-06 has escaped assessment. He, therefore, proposed to reopen the assessment for the said year and that, therefore, the assessee should file the return within 30 days from the date of receipt…

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