Held, that section 147(b) did not exist in the statute for the assessment year 2010-11. It was a fact that the assessee did not maintain any such bank account with the bank and the amount alleged to have escaped assessment belonged to the assessee. The Assessing Officer had recorded wrong, incorrect and non-existing reasons and the reopening of the assessment had been done without application of mind. Therefore, the reassessment was liable to be quashed and the additions made were to be deleted. (AY.2010-11)