Allowing the appeal the Tribunal held  that the first reason for reopening the assessment was that the assessee had not filed his return of income for the year under consideration. The assessee had filed the return of income on March 31, 2011, i.e., prior to the recording of reasons for reopening the assessment, by the Assessing Officer. Once there was a factually incorrect basis about the formation of belief about escapement of income, such reasons could not be taken to be valid even if the alternate reasons relied upon may be correct. Thus, as the recording of reasons was based on an incorrect assumption of fact, it invalidated the formation of belief envisaged under section 147 / 148 of the Act. As a consequence thereof, the assumption of jurisdiction under section 147 / 148 of the Act was untenable and liable to be set aside. (AY. 2010-11)