HIGH COURT OF GUJARAT
Surat District Co-op Milk Producers Union Ltd.
Versus
Income-tax Officer
Special Civil Application No. 18592 of 2011
September 27, 2012
ORDER
1. Rule. Learned counsel Mr Sudhir Mehta waives service of Rule. Petition is taken up for hearing forthwith.
2. The petitioner, a Cooperative Milk Producers’ Union, has challenged notice dated 30th March 2011 issued by the respondent, Income Tax Officer under Section 148 of the Income Tax Act, 1961 (‘Act’, for short). By such notice he proposed to reopen the assessment of the petitioner for the Assessment Year 2004-05.
3. The petitioner is filing regular returns and is regularly assessed to tax. For the Assessment Year 2004-05, the petitioner filed return of income on 21st October 2004 declaring nil income. In such return the petitioner had claimed a gross deduction of Rs.1,81,27,606 under Section 80P 2(d) of the Act. However, the actual deduction claimed considering the gross total income under this head was Rs. 87,03,078.
4. The return of the petitioner was taken in scrutiny. The Assessing Officer framed assessment under Section 143(3) of the Act on 27th December 2006 determining the net taxable income of the petitioner at nil. In the assessment order he recorded as under:-
