Assessment was sought to be reopened in case of assessee on ground that disallowance of sum of Rs. 8.98 crore only under section 36(1)(iii) instead of Rs. 13.04 crore in assessment order had resulted in escapement of income of Rs. 4.06 crore. The objection of the assessee was rejected. On writ allowing the petition the Court held that  the Assessing Officer failed to make out any case that alleged escapement of income was due to any omission or failure on part of assessee in disclosing fully and truly material facts necessary in course of regular assessment. Accordingly notice under section 148 and all subsequent proceedings on basis of aforesaid impugned notices are quashed. (AY. 2010-11)