S. 147 : Reassessment-After the expiry of four years-Shipping business-Reserves-Dividend and long term capital gains-No failure to disclose material facts-Return was not filed in pursuance of notice issued u/s. 148 of the Act-There is no hard and fast rule that the assessee should file the return pursuant to notice, when the reasons do not disclose on the face of it any failure on the part of the assessee to disclose all material facts necessary for assessment-Reassessment notice was quashed. [S. 33AC, 148, Art. 226]