Assessing Officer  reopened on the ground that reasons recorded for reopening stated that investigation was initiated by DG GST on two companies  Meher and Nyles Sales Agencies Pvt Ltd  in course of which it was found that both companies were shell companies and entire sales and purchases of both companies appeared to be fraudulent and bogus and assessee company was one of beneficiary entities who made transactions with company Nyles Sales Agencies Pvt Ltd. On writ the Court held that  the  assessee did have financial transactions with company Nyles Sales Agencies Pvt Ltd    but assessee had taken a loan from company Nyles Sales Agencies Pvt Ltd   and not made any payment to company Nyles Sales Agencies Pvt Ltd    or supplied any goods to company Nyles Sales Agencies Pvt Ltd    Further, it was found that in annexure to the Form No.3CD, assessee has disclosed that it had taken loan from Nyles Sales Agencies Pvt Ltd    along with Nyles Sales Agencies Pvt Ltd   PAN number and balance sheet of assesse also indicates Long Term Borrowings.  Since there was no allegation in reasons recorded that there was any failure on part of assessee to truly and fully disclose all material facts necessary for its assessment for relevant assessment year. Notice and order disposing the objection is quashed.  (AY. 2015-16)