The assessee was a sub-fund or series of Abedeen Institutional Comingled Funds , LLC (AICFL)  a Delaware (USA) based limited liability  Company. The losses were properly declared in the return.   Losses were allowed for the assessment years 2011-12 and subsequent years . Revenue issued the notice u/s 148 for denying the carry forward and set off losses u/s 74 due to change in structure of the entity .  On writ    allowing the petition the Court held that  the reasons recorded for reopening of assessment was preciously on the ground of change of  status that the claim of the assessee i. e . the assessee was found to be not acceptable which led to be the formation of the belief that income chargeable to tax has escaped assessment. The contention of alternative remedy is rejected by the Court. The Court held that if the Assessing Officer had no jurisdiction to initiate reassessment proceeding, the mere fact that the subsequent orders have been passed would render the challenge to jurisdiction infructuous .    If the very basis for reopening assessment does not survive , orders on such re-opening would not survive too.  Accordingly the notice u/s 148 was quashed and consequential draft assessment order  passed thereafter were also held to be unsustainable .  ( WP No. 2796 of 2019 , 2803 of 2019 , 3525 of 2019 dt 21-6-2020 ) ( AY. 2011-12 , 2012 -13)