Supreme Court · 2007 INSC 647 · Decided 18 May 2007
Dilip N. Shroff v. Joint Commissioner of Income Tax, Mumbai and ANR.
- Court
- Supreme Court of India
- Citation
- 2007 INSC 647 · [2007] 7 S.C.R. 499
- Case number
- CIVIL APPEAL No. 2746/2006
- Decided
- 18 May 2007
- Bench
- S.B. SINHA, P.K. BALASUBRAMANYAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 27(1)(c)
Headnote
B Income Tax Act, 196I: Section 27 I (J)(c )-Concealment of income and furnishing of inaccurate particulars of such income-Ingredients of-Imposition of C 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 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 D . stated that the pwpose of valuation was for computation of capital gains­ The Assessing Officer referred the valuation to the District
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