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On internet message boards and blogs, with growing concern for political correctness, people feel compelled to refer to any unknown or anonymous entity as "he or she" or "he/she" etc.

In response to this, people who have a distaste for political correctness have coined the term s/h/it, pronounced just as it looks. It stands for she/he/it, cleverly taking a disdainable situation and turning it on it's ear.
"S/h/it may answer the question in which ever manner s/h/it wishes."
s/h/it by Wind February 21, 2005
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a response to the phrase T.G.I.F. (thanks God its Friday) when it is actually thursday. S.H.I.T. (sorry hon its thursday)
Woman in elevator: *sigh* TGIF
Man in Elevator: S.H.I.T.
Woman looks at him blankly: what did you say?
Man: Sorry Hon its Thursday.
S.H.I.T by J.M. Atkins February 9, 2008

S.H.I.T. 

An acronym that stands for "Sexual Harassment Investigation Team." Because as we all know, 99% of "sexual harassment" claims these days are, in fact, a crock of shit.
Suzy filed a sexual harassment claim against Bob because he said she looked hot in her new outfit. Sounds like a S.H.I.T. case if you ask me.
S.H.I.T. by JustAnotherGuy December 28, 2004

s.h.i.t. 

A way to crush someones dreams when they think it's friday. Stands for 'Sorry hun, it's Thursday.'
James: Haha, T-G-I-F!
Katie: S-H-I-T...
s.h.i.t. by Wonderful Aishas July 7, 2005
Computer term

System Has Interrupted Task
The PC has S.H.I.T
Itself i.e it has hung and stopped processing any tasks
S.H.I.T by nwing March 5, 2009

S.H.I.T. 

S.H.I.T. by mndz_mkl October 1, 2009

s.h.i.t. 

The realy meaning...not making it up...
Store High In Transit. Because they had to mark it on manure when shipping it across seas on ships.
Hey, did you mark S.H.I.T on the poo under deck??
s.h.i.t. by Tammi B. August 26, 2005