Allowing the petition the Court held that the notice based on assessment order of subsequent assessment year issues of non-deduction of tax at source on payment made to non-resident, short and long term gains on share transactions, deductions under section 35(2AB) and provision for warranty substantiated with supporting documents by assessee in original scrutiny assessment. Assessee’s submissions accepted by Assessing Officer and order stating that claims duly examined. No failure on part of assessee to disclose all material facts Reopening of assessment solely based on holding of Assessing Officer for subsequent assessment year No independent formation of opinion by Assessing Officer based on new material Reassessment proceedings unsustainable. Notice quashed and set aside. (AY. 2009-10)