AdvertisementPCIT Vs Shodiman Investments Pvt. Ltd. (Bombay High Court) The Revenue filed an appeal under Section 260A of the Income Tax Act, 1961 challenging the order dated 12.12.2014 passed by the Income Tax Appellate Tribunal for Assessment Year 2003-04. The substantial question of law raised was whether the Tribunal was justified in holding that the reopening of the assessment was not sustainable in law. The respondent, engaged in investment and trading in shares and debentures, filed its return declaring a loss of ₹11,736, which was processed under Section 143(1). Subsequently, on 30.03.2010, the A...