The assessee’s share trading loss was assessed as business loss in scrutiny under s. 143(3). Reopening beyond four years to recharacterize it as speculation loss under the Explanation to s. 73 was held invalid since the issue had been considered in the original assessment and no allegation of failure to disclose was made. The Supreme Court dismissed the Revenue’s SLP, upholding the High Court’s order. (AY 2013-14)