The assessee had disclosed the sale transactions and liquidation of shares in his regular books of account and the liquidation of shares were received in bank. Thus these assets could not be termed undisclosed assets. It had been appositely concluded in the concurrent decisions of the Commissioner (Appeals) and the Tribunal that it could not be held that the allegedly undisclosed assets had escaped assessment. The notice under section 153C for the assessment year 2011-12 was not valid.(AY.2011-12)