Notice of reassessment was issued on the ground that the  assessee was involved in huge amount of cash transaction in Bank of India (BOI) however only a part of such deposits were admitted as its gross receipts. Objection of the assessee was rejected by the Revenue. On writ allowing the ppetition the Court held that the objection raised by assessee were rejected without  applying mind to facts that were relevant and more importantly facts stated in counter set up a case, rather material particulars, different from reasons given for reassessment. Accordingly the notice and consequent order passed were  set-aside.  (AY. 2015-16)