The assessee in its return filed for the relevant assessment year claimed deduction under section 10B of the Act. The AO while finalising the assessment accepted the claim of the assessee. Subsequently after the expiry of 4 years the AO issued notice under section 148 of the Act relying on the decisions of Delhi High Court where in the court had held that the approval for the purpose of section 10 B can only be an approval granted by the board constituted by the Central Government under the provisions of Industrial (Development and Regulation) Act 1951 and therefore, the assessee is not entitled to claim the exemption under section 10B of the Act. Hon’ble Court had quashed the notice issued under section 148 of the Act as the same was issued beyond the period of 4 years from the end of relevant assessment year and there is no failure on the part of the assessee to furnish all the relevant material facts. The court has further observed that the responsibility of the assessee is only to place the materials before the AO and the assessee would not be responsible for the inferences made by the assessing authority based on the materials that he has placed before the concerned authority. A change in the opinion or later decision on the legal aspects cannot be a reason for reopening an assessment which has been included on the basis of the material which is made available in cases where the reopening is attempted after 4 years unless the assessee failed to disclose the relevant information.(AY. 2006-07 to 2008-09)