Re-Opening not allowed for issue Investigated during original assessment

NuPower Renewables Pvt. Ltd. Vs ACIT (Bombay High Court) FACTS – Assessee for AY 2011-12 filed ROI declaring loss of INR 5.97 Crore, thereafter filed revised return declaring loss of INR 6.45 Crore. Assessee received INR 49,90,48,000 from M/s. Firstland, Mauritius being subscription towards compulsory convertible cumulative preference shares. AO issued notice u/s 142 (1) on 02.08.2013 asking for various details including copy of balance sheet, profit and loss account and also asking question with reference to issuance of shares. The said notice was duly replied on 08.08.2013. On 30.10.2013 A...