How to use Infra Red (IR) to reset arduino board
Kind of, yes.  That doesn't actually reset the Arduino, it just sends the program to address 0.

There are two other ways of performing the reset that do a proper full reset:


Enable the watchdog timer and let it time out to reset the CPU.
Connect an IO pin to the RESET pin - keep it in INPUT most of the time but set it to OUTPUT and LOW when you want to reset.


By just jumping to address 0 you aren't resetting the internal peripherals and registers to their reset state, so things like timers and such will still be running when they shouldn't be, etc.  It's better by far to do a real reset instead of just jumping to 0 like that.