Allowing the petition, the Court held that there was nothing to indicate failure to disclose any material fact. Upon examining the order under section 143(3) of the Income-tax Act, 1961, it was clear that the Assessing Officer had considered all documents and accepted the business loss and allowed unabsorbed depreciation to be carried forward to the subsequent years in accordance with the Act. The notice of reassessment was not valid.(AY. 2012-13)