At the outset we had called upon counsel for the petitioner to satisfy us why the petitioner should not be relegated to the statutory appellate remedy. In response to the same, counsel for the petitioner vehemently contended that the notice of reopening of the assessment is based on the reasons which are not sustainable. He submitted that the impugned notice has been issued beyond the period of four years from the end of relevant assessment year without there being any failure on the part of the assessee to disclose truly all material facts. In that view of the matter, the counsel contended, that the AO would have no jurisdiction to reopen the assessment.