Dismissing the petition the Court held that  the Explanation to S. 149 clarifies that ‘deposits in bank accounts’ form a part of the ‘assets’ of the assessee, and accordingly, in the considered opinion of this Court, the arguments advanced by the assessee qua the expiry of limitation under S. 149 in relation to the issuance of the impugned notice cannot be sustained as the income escaped assessment extends is  higher than the minimum threshold of Rs. 50,00,000 enshrined under S. 149. Accordingly, the limitation vis-a-vis the initiation of reassessment proceedings in the case herein would resultantly extend to 10 years in light of the fact that the AO had in its possession inter alia books of accounts evidencing voluntary deposits in bank accounts extending to more than Rs. 50,00,000.  (AY. 2016-17)