Allowing the petition, the Court held that  even in a case where the return was not taken up for scrutiny assessment the requirement that the Assessing Officer must have reason to believe that income chargeable to tax had escaped assessment applied. that the assessee had by filing the return offered his share of the proceeds by way of capital gains for the purpose of computing the capital gains tax. The reasons cited were that the assessee filed no return and that the one-third share of the assessee from the actual sale consideration of Rs. 1,18,95,000 therefore, was not brought to tax. Both the reasons were factually incorrect. The notice issued under section 148 for re-opening the assessment was to be quashed. (AY. 2010-11)