Supreme Court of India

Dilip N. Shroff v. Joint Commissioner of Income Tax, Mumbai and Anr.

Neutral citation

Reported as [2007] 7 S.C.R. 499

Bench S.B. Sinha and P.K. Balasubramany An JJ.

Decided 18 May 2007

Status Overruled

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

5 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that penalties should not be draconian, I we also strongly feel that those who are tempted to resort to concealment of income should not be allowed to get away with tenuous legal interpretations.

Judgment, page 24

From the headnote

Income Tax Act, 196I: Section 27 I (J)(c )-Concealment of income and furnishing of inaccurate particulars of such income-Ingredients of-Imposition of penalty-AY 1998-99-Assessee, an HUF, filed a return of income showing a long term capital loss-The said capital loss had arisen on account of sale of property in which the assessee had a I/4th share-The assessee had appointed a registered valuer for valuation of the said property-The value of the property was fixed at a certain sum-In the valuation report, it was . stated that the pwpose of valuation was for computation of capital gains The

Authorities it was built on

1985 S. Sundaram Pillai, Etc. v. V.R. Pattabiraman Etc. cited by 48
1989 Gujarat Travancore Agency, Cochin v. Commissioner of Income-tax, Kerala, Ernakulam cited by 6
1987 Commissioner of Income Tax v. Mussadilal Ram Bharose cited by 2

Where later benches applied it

2017 Excel Crop Care Limited v. Competition Commission of India and Another relied on
2025 K. Krishnamurthy v. The Deputy Commissioner of Income Tax referred to
2022 Horticulture Experiment Station Gonikoppal, Coorg v. The Regional Provident Fund Organization referred to
2010 C. I. T., Ahmedabad v. Reliance Petroproducts Pvt. Ltd. explained
2008 Union of India and Ors. v. M/s Dharamendra Textile Processors and Ors. overruled

Of those, 1 relied on · 2 referred to · 1 explained · 1 overruled

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