Allowing the writ appeal the Court held that  the notice of reassessment had been issued beyond the period of four years. In terms of the proviso to section 147, the assessing authority had to establish as a precondition, that the invocation of larger limitation of six years was on account of the failure on the part of the assessee to file a proper return of income or to make a full and true disclosure of all material facts. The assessee had filed the return of income. The original order of assessment contained unambiguous findings to the effect that all materials required by the assessing authority to arrive at a proper conclusion in regard to the claim of bad debts, were available before the authority. No new tangible material had been noted or cited by the assessing authority to justify the reassessment, that too, beyond a period of four years. The Department had not brought on record any material to establish failure of the assessee to make a full and true disclosure. Hence, the assumption of jurisdiction under section 147 was bad in law.(AY. 2009-10)