Assessee-company is  carrying on mining business .  During year under consideration an e-auction of Iron Ore (mining) had been conducted by monitoring committee appointed by Supreme Court of India by assessee and total e-auctioned amount for financial year 2011-12 was determined . Assessee had filed its return of income for assessment year 2012-13 .  Subsequently, notice under section 148 was issued after expiry of four years from filing of return for reasons that as company maintained its account as per mercantile system, e-auctioned amount in financial year 2011-12 (assessment year 2012-13) had to be accounted in same year . Allowing the petition the Court held that  from records it was found that assessee had made complete disclosures and informed revenue that during assessment year 2012-13, certain tons of ore was e-auctioned by Monitoring Committee and it received no portion of sale proceeds during said year and sale proceeds were ultimately received during assessment year 2013-14, which was duly accounted for during said year .   From records, it was apparent that assessee did not fail to disclose fully and truly all material facts necessary for its assessment for relevant assessment year 2012-13 and therefore, the notice and order disposing the objection is quashed and set aside .   to reopen assessment was to be quashed and set aside . (AY. 2012 -13)