Dismissing the petition the court held the notice issued by the Assessing Officer after conducting an investigation and going through the Income-tax return and other related documents of the assessee and after recording a reason to believe that the assessee had not truly and fully disclosed all the material facts, because of which income amounting to Rs. 2,62,56,303 had escaped assessment. There was prima facie material available on record before the Assessing Officer for issuing a notice under section 148 of the Act.  Reassessment notice is held to be valid. (AY.2013-14)