Dilip N. Shroff v. JCIT

291 ITR 519Supreme Court of India2007#113 most cited

What is Dilip N. Shroff v. JCIT authority for?

A penalty notice issued under Section 271(1)(c) is invalid if the Assessing Officer fails to strike out the inapplicable limb (concealment or furnishing inaccurate particulars) from the standard proforma, indicating non-application of mind. The initial burden of proving concealment or inaccurate particulars rests on the Revenue.

565

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2007 to 2026.

Also referred to as

Dilip N. Shroff v. JCIT · Section 271(1)(c) · Section 274 · penalty notice invalidity · non-application of mind · concealment of income · furnishing inaccurate particulars · burden of proof Revenue · striking off irrelevant clauses · standard proforma notice · levy of penalty

Also reported as

210 CTR 228

Sections most often in play

Section 271(1)(c)Section 274Section 143(3)Section 132Section 153CSection 250Section 153ASection 270A
Read the full judgment

Issues it is cited on

penalty under section 271(1)(c)furnishing inaccurate particulars of incomefurnishing inaccurate particularspenalty u/s 271(1)(c)concealment of incomesection 274levy of penaltysection 271(1)section 271section 271(1)(c)section 27section 139(1)

Judgments citing Dilip N. Shroff v. JCIT

DCIT, Central Circle - 2(2), Kolkata vs. M/S. Calcutta Industrial Supply Corp., Kolkata

ITA 1610/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA Logistics P Ltd., Ambey Mining Pvt. Ltd. & M/s Calcutta Industrial Supply Crop. Page 6 We also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff v. Jt. CIT (2007) 291 ITR 519 (SC) wherein it was held that Imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer, keeping the relevant factors in mind. In this regard, we would like to state that assessment has been completed based on the explanations g…

DCIT, Central Circle - 2(2), Kolkata vs. Ambey Mining Pvt. Ltd., Kolkata

ITA 1607/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA Logistics P Ltd., Ambey Mining Pvt. Ltd. & M/s Calcutta Industrial Supply Crop. Page 6 We also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff v. Jt. CIT (2007) 291 ITR 519 (SC) wherein it was held that Imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer, keeping the relevant factors in mind. In this regard, we would like to state that assessment has been completed based on the explanations g…

DCIT, Central Circle - 2(2), Kolkata vs. Aka Logistics Pvt. Ltd., Kolkata

ITA 1604/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA Logistics P Ltd., Ambey Mining Pvt. Ltd. & M/s Calcutta Industrial Supply Crop. Page 6 We also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff v. Jt. CIT (2007) 291 ITR 519 (SC) wherein it was held that Imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer, keeping the relevant factors in mind. In this regard, we would like to state that assessment has been completed based on the explanations g…

M/S Earthtech Engineers, Pathankot vs. Assistant Commissioner of Income Tax, Circle - VI, Pathankot

In the result, the appeal of the assessee in ITA

ITA 580/ASR/2017[2009-10]Status: DisposedITAT Amritsar21 Feb 2019AY 2009-10

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 553/Asr./2017 : Asstt. Year : 2009-10 M/S Earthtech Engineers, Vs Asstt. Commissioner Of Income C/O Shri Vaishno Malhotra, Tax, Circle-Vi, Outside Mann Market, Main Pathankot Bazar, Pathankot (Appellant) (Respondent) Pan No. Aacfe1819R Assessee By : Written Submission Revenue By : Smt. Ratinder Kaur, Dr

For Appellant: Written SubmissionFor Respondent: Smt. Ratinder Kaur, DR
Section 271(1)Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

Guru Gobind Singh Educational Society, Moga vs. Income Tax Oficer (Exemption), Jalandhar

In the result, the appeal i

ITA 62/ASR/2018[2011-12]Status: DisposedITAT Amritsar20 Feb 2019AY 2011-12

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita Nos.61 & 62(Asr)/2018 Assessment Year:2009-10 & 2011-12

For Appellant: Sh. P.N. Arora (Ld. Adv.)For Respondent: Sh. M.P. Singh (Ld. CIT-DR)
Section 250(6)Section 271Section 271(1)Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

Guru Gobind Singh Educational Society, Moga vs. Income Tax Officer (Exemption), Jalandhar

In the result, the appeal i

ITA 61/ASR/2018[2010-11]Status: DisposedITAT Amritsar20 Feb 2019AY 2010-11

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita Nos.61 & 62(Asr)/2018 Assessment Year:2009-10 & 2011-12

For Appellant: Sh. P.N. Arora (Ld. Adv.)For Respondent: Sh. M.P. Singh (Ld. CIT-DR)
Section 250(6)Section 271Section 271(1)Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

Smt. Kanta Garg, D/O. Sh. Kesho Ram, Bathinda vs. The Income Tax Officer, Bathinda

In the result, the appeal filed by the assessee stands allowed

ITA 72/ASR/2016[2009-10]Status: DisposedITAT Amritsar19 Feb 2019AY 2009-10

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita No.72(Asr)/2016 Assessment Year:2009-10

For Appellant: Sh. P.N.Arora (Ld. Adv.)For Respondent: Smt. Palwinder Kaur (Ld. CIT-DR)
Section 250(6)Section 271Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

Shree Shirdi Sai Shakti Peeth Trust vs. The Income Tax Officer(Exemptions, Jalandhar

In the result, the appeal filed by the assessee stands partly allowed

ITA 39/ASR/2017[2012-13]Status: DisposedITAT Amritsar15 Feb 2019AY 2012-13

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

For Appellant: Sh. Parikshit Aggarwal (Ld. CA)For Respondent: Sh. Bhawani Shankar (Ld. DR)
Section 250(6)Section 271Section 271(1)(c)Section 274

…vs. ITO(E) standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

Sh. Yash Paul Khanna, Jalandhar vs. Assistant Commissioner of Income Tax, Jalandhar

In the result, the appeal filed by the assessee stand allowed

ITA 645/ASR/2016[2008-09]Status: DisposedITAT Amritsar15 Feb 2019AY 2008-09

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita No.645(Asr)/2016 Assessment Year:2008-09

For Appellant: Sh. Y.K. Sud (Ld. CA)For Respondent: Sh. Palwinder Kaur (Ld. DR)
Section 139Section 250(6)Section 271Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

The Income Tax Officer, Jalandhar vs. Sh. Sarwan Singh Phillaur, Jalandhar

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

ITA 562/ASR/2015[2007-08]Status: DisposedITAT Amritsar14 Feb 2019AY 2007-08

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

For Appellant: Sh. R.K.Sarna, ARFor Respondent: Shri Bhawani Shankar, DR
Section 148Section 271(1)(c)Section 54

…d that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furni…

Sh. Sarwan Singh Phillaur, Jalandhar vs. The Income Tax Officer, Jalandhar

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

ITA 531/ASR/2015[2007-08]Status: DisposedITAT Amritsar14 Feb 2019AY 2007-08

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

For Appellant: Sh. R.K.Sarna, ARFor Respondent: Shri Bhawani Shankar, DR
Section 148Section 271(1)(c)Section 54

…d that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furni…

Dr. Sunil Khosla, New Delhi vs. ACIT, New Delhi

In the result, the appeal filed by the Assessee stands allowed

ITA 182/DEL/2016[2011-12]Status: DisposedITAT Delhi14 Feb 2019AY 2011-12

Bench: Shri H.S. Sidhu & Shri Prashant Maharishia.Y. : 2011-12

For Appellant: Sh. Pradeep Aggarwal, CAFor Respondent: Ms. Rinku Singh, Sr. DR
Section 143(3)Section 271(1)Section 54F

…sion in the case of CIT vs. Reliance Petro Products Ltd. in Civil Appeal No. 2463 of 2010 is squarely applicable in the present case of the assessee. In this case vide order dated 17.3.2010 it has been held that the law laid down in the Dilip Sheroff case 291 ITR 519 (SC) as to the meaning of word ‘concealment’ and ‘inaccurate’ 5 continues to be a good law because what was overruled in the Dharmender Textile case was only that part in Dilip Sheroff case where it was held that mensrea was a essential requirement of penalty u/s 271(1)(c). The Hon’ble Apex Court also observed that if the contention of the rev…

Smt. Janak Rani Dhingra, Haryana vs. The Income Tax Officer, Moga

In the result, the appeal of the assessee is allowed

ITA 294/ASR/2016[2006-07]Status: DisposedITAT Amritsar12 Feb 2019AY 2006-07

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 294/(Asr)/2016 Assessment Year: 2006-07

For Appellant: Sh. P.N. Arora, AdvocateFor Respondent: Sh. Bhawani Shankar, DR
Section 271Section 271(1)(c)Section 274Section 54Section 54F

…d that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furni…

Alfa Systems & Services, Noida vs. ITO, Ward-1(1), Noida

In the result, the appeal of the assessee is allowed

ITA 4327/DEL/2018[2007-08]Status: DisposedITAT Delhi06 Feb 2019AY 2007-08

Bench: Sh. N. S. Sainiita No. 4327/Del/2018 : Asstt. Year : 2007-08 Alfa Systems & Services, Vs Income Tax Officer, E-19C, Sector-8, Ward-1(1), Noida-201301 Noida (Appellant) (Respondent) Pan No. Aalfa3938L Assessee By : None Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 04.02.2019 Date Of Pronouncement: 06.02.2019 Order This Is An Appeal Filed By The Assessee Against The Order Of Cit(A)-I, Noida Dated 28.10.2016. 2. None Appeared On Behalf Of The Assessee When The Case Was Called For Hearing & Neither Any Adjournment Application Was Filed. The Bench Was Of The View That The Appeal Of The Assessee Can Be Disposed Off In The Absence Of The Assessee. Therefore, The Appeal Was Heard Ex-Parte Qua The Assessee & Disposed Off Considering The Submission Of The Ld. Departmental Representative.

For Appellant: NoneFor Respondent: Sh. S. L. Anuragi, Sr. DR
Section 271Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the CIT(A) issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the CIT(A) was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnished inaccurate particu…

DCIT, Central Circle - 2(2), Kolkata vs. M/S/ Rashmi Metaliks Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1608/KOL/2017[2013-14]Status: DisposedITAT Kolkata01 Feb 2019AY 2013-14

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 132Section 132(4)Section 143(3)Section 271(1)(c)Section 271A

…आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA (सम") "ी ऐ. ट". वक", "यायीक सद"य एवं डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM] I.T.A. Nos. 1608/Kol/2017 Assessment Years: 2013-14 DCIT, Central Circle 2(2), Kolkata Vs. M/s. Rashmi Metaliks Ltd. [PAN: AACCR 7183 E] Appellant Respondent Date of Hearing 27.12.2018 Date of Pronouncement 01.02.2019 For the Appellant Shri A.K. Singh, CIT, DR For the Respondent Shri A.K. Tulsyan, FCA & Ms. Shikha Agarwal, ACA ORDER Per Shri A.T.Varkey, JM This appeal is filed by the Revenue…

DCIT, Cental Circle -2(2), Kolkata vs. M/S/ Aryan Minning & Trading Corporation Ltd, Kolakta

In the result, the appeal of the Revenue is dismissed

ITA 1601/KOL/2017[2012-13]Status: DisposedITAT Kolkata01 Feb 2019AY 2012-13

Bench: Sh. A.T.Varkey & Sh. A.L.Sainidcit, M/S. Aryan Mining & Central Circle-2(2), Aayakar V Trading Corporation Ltd., P-1, Hide Lane, 8Th Floor, Bhawan, Poorva, 110 S Shantipally, Kolkata-700073. Kolkata-700107. Pan-Aadca7247B (Appellant) (Respondent) Appellant By Sh. A.K.Singh, Cit Dr Respondent By Sh. A.K.Tulsyan, Fca & Ms. Sikha Agarwal, Aca 27.12.2018 Date Of Hearing 01.02.2019 Date Of Pronouncement

Section 132Section 132(4)Section 143(3)Section 271A

…see (for which no incriminating evidence, papers / documents, stock, cash etc were found during the search operation in order to buy peace of mind and avoid any further litigation. The assessee has brought on record the case law of Dilip N Shroffvs CIT (2007) 291 ITR 519 (SC). In this case law the Hon'ble Supreme Court has held that imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion if required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres (Punjab Ty…

Valentine Maritime (Gulf) Llc, Mumbai vs. DCIT (It) 4(3)(1), Mumbai

In the result appeal of the assessee is allowed

ITA 1034/MUM/2017[2006-07]Status: DisposedITAT Mumbai01 Feb 2019AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Valentine Maritime Vs. Dcit(It) 4 (3) (1) 16Th Floor, (Gulf) Llc 2004-2005, Montreal, B-31 Air India Building Shastri Nagar, Andheri (W), Mumbai - 400021 Mumbai - 400053 Pan/Gir No.Aabcv1070B (Appellant) .. (Respondent)

Section 271Section 271(1)Section 271(1)(C)Section 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL “F”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM M/s. Valentine Maritime Vs. DCIT(IT) 4 (3) (1) 16th Floor, (Gulf) LLC 2004-2005, Montreal, B-31 Air India Building Shastri Nagar, Andheri (W), Mumbai - 400021 Mumbai - 400053 PAN/GIR No.AABCV1070B (Appellant) .. (Respondent) Assessee by Shri Hiro Rai Revenue by Shri Rajeev Gubgoira Date of Hearing 13/11/2018 Date of Pronouncement 01/02/2019 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by assessee against the order of CIT(A)-55, Mumbai dated 28/10/2016 for A.Y.2006-07 in the matter of…

Dharmesh Dhulabhai Prajapati, Mehsana vs. The ITO, Mehsana Ward-5, Mehsana

In the result, assessee’s appeal is allowed

ITA 1570/AHD/2017[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2019AY 2011-12

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Biren V. Shah, A.RFor Respondent: Shri Jaya Chaudhary, Sr. D.R
Section 143(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 274

…rate particulars of income or concealed income which is nothing but non- application of mind, according to the Learned AR. On this particular issue he has relied upon the judgment passed by the Hon’ble Apex Court in the case of Dilip and Shrof-vs- JCIT (2007) 291 ITR 519 (SC) where it was held while issuing the notice for initiating penalty proceeding u/s 271(1)(c) of the Act the AO should apply mind and make it clear as to whether he has proceeded on the basis that the tax payer has concealed his income or he had furnished inaccurate particulars of income which according to the Learned Advocate has not followed…

Ritu Malik, New Delhi vs. ITO, Ward- 62(5), New Delhi

In the result, the appeal filed by the assessee is 9

ITA 3778/DEL/2018[2008-09]Status: DisposedITAT Delhi16 Jan 2019AY 2008-09

Bench: Shri N.S. Sainiassessment Year: 2008-09

Section 271Section 271(1)(c)Section 274

…eld that the standard proforma of notice under section 274 of the Act without striking of the irrelevant clauses would lead to an inference of non-application of mind by the Assessing Officer. The Hon'ble Supreme Court in the case of Dilip N. Shroff vs. JCIT, 291 ITR 519(SC) has also noticed that where the Assessing Officer issues notice under section 274 of the Act in the standard proforma and the inappropriate words are not deleted, the same would postulate that the Assessing Officer was not sure as to whether he was to proceed on the basis that the assessee had concealed the particulars of his income or furnis…

ACIT, New Delhi vs. Smt. Sravanthi Koduru, New Delhi

Appeal stands dismissed

ITA 6796/DEL/2015[2009-10]Status: DisposedITAT Delhi16 Jan 2019AY 2009-10

Bench: Shri G.D.Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

For Appellant: Sh. Shiv Mahajan, CA, Ms. Jyoti Saxena, CAFor Respondent: Shri Sridhar Dora, Sr.DR
Section 271(1)(C)Section 271(1)(c)Section 54F

…(SC), incidentally reported in same ITR Volume, it is held that penalty cannot be levied solely on basis of reasons given in original order of assessment. The Hon’ble Supreme Court has recently reiterated the law in case of Dilip N. Shroff v. Jt. CIT [2007] 291 ITR 519 by holding in Para 62 that finding in assessment proceedings cannot automatically be adopted in penalty proceedings and the authorities have to consider the matter afresh from different angle. The statute requires a satisfaction on the part of the Assessing Officer. He is required to arrive at a satisfaction so as to show that there is primar…