Dismissing the petition the Court held that , investment in shares and immoveable property were not originally disclosed by the assessee at the time of the original returns . The reassessment made on 31-12 -2001  were seta side on technical ground of failure to comply the mandatory requirement of section 143(2) of the Act . The assessment was not on merits . The Court also observed that last date for invoking section 148 for the AY. 2008 -09 expired only on 31-03 2015 and for the AY. 2009 -10 on 31-3 -2016  and since the notice u/s 148 were dated 17 -3 -2015 , they were well within time . The Court held that if there has been a finding given on merits stating that there was no case for escapement assessment  then 2^nd notice would have been barred . Accordingly the Court held that reopening notices  were not only in time but also in accordance with law.  (WP No. 29005 & 29006 of 2015 dt 18 -12 -2019)( AY. 2008 -09, 2009 -10)