Delhi in Commissioner of Income-tax–III v. Shri Vardhman Overseas Ltd.

16 Taxmann.com 350High Court2011#10224 most cited

What is Delhi in Commissioner of Income-tax–III v. Shri Vardhman Overseas Ltd. authority for?

Section 68 of the Income Tax Act, 1961 does not apply to credit balances brought forward from previous years, as it pertains to fresh credits received during the relevant financial year.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT vs Vardhman Overseas Ltd · section 68 · cash credits · sundry creditors · opening balances · preceding years · fresh credit · assessment · addition

Sections most often in play

Section 143(3)Section 144BSection 147Section 148Section 148ASection 151Section 18Section 19

Issues it is cited on

sundry creditorsshare application moneysection 10section 68section 142(1)previous yearsection 143(2)section 250transfercompanysection 143(3)nfac

Judgments citing Delhi in Commissioner of Income-tax–III v. Shri Vardhman Overseas Ltd.

M/S. Devisha Infrastructure Pvt Ltd, Mumbai vs. ITO Ward 6(2)(2), Mumbai

In the result, appeal of the assessee ITA No

ITA 5782/MUM/2025[2017-18]Status: DisposedITAT Mumbai17 Dec 2025AY 2017-18

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Nishit GandhiFor Respondent: Shri Umashankar Prasad (SR DR)
Section 143(3)Section 147Section 148Section 148ASection 151Section 250Section 282ASection 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A No.5781/Mum/2025 - A.Y. 2019-20 I.T.A No.5782/Mum/2025 - A.Y. 2017-18 M/s Devisha Infrastructure vs ITO Ward 6(2)(2), Mumbai Room no.510, 5th Floor, Aaykar Pvt Ltd, 5th Floor, Militia Apartment, Bhavan, M.K.Road, Mumbai. M.P. Road, Mazgaon, Mumbai-400 010 PAN : AACCD5192R APPELLANT RESPONDENT Assessee by : Shri Nishit Gandhi Respondent by : Shri Umashankar Prasad (SR DR) Date of hearing : 03/12/2025 Date of pronouncement : 17/12/2025 O R D E R Per: An…

M/S. Devisha Infrastructure Pvt Ltd, Mumbai vs. ITO Ward 6(2)(2), Mumbai

In the result, appeal of the assessee ITA No

ITA 5781/MUM/2025[2019-20]Status: DisposedITAT Mumbai17 Dec 2025AY 2019-20

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Nishit GandhiFor Respondent: Shri Umashankar Prasad (SR DR)
Section 143(3)Section 147Section 148Section 148ASection 151Section 250Section 282ASection 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A No.5781/Mum/2025 - A.Y. 2019-20 I.T.A No.5782/Mum/2025 - A.Y. 2017-18 M/s Devisha Infrastructure vs ITO Ward 6(2)(2), Mumbai Room no.510, 5th Floor, Aaykar Pvt Ltd, 5th Floor, Militia Apartment, Bhavan, M.K.Road, Mumbai. M.P. Road, Mazgaon, Mumbai-400 010 PAN : AACCD5192R APPELLANT RESPONDENT Assessee by : Shri Nishit Gandhi Respondent by : Shri Umashankar Prasad (SR DR) Date of hearing : 03/12/2025 Date of pronouncement : 17/12/2025 O R D E R Per: An…

Raj Kumar Daga HUF, Delhi vs. ACIT Circle 30(1), Delhi

In the result, appeal of the assessee is allowed

ITA 709/DEL/2024[2014-2015]Status: DisposedITAT Delhi26 Nov 2025AY 2014-2015

Bench: Shri Sudhir Kumar & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 234Section 234ASection 250

…ITA Nos.699 & 709/Del/2024 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “C” BENCH: NEW DELHI BEFORE SHRI SUDHIR KUMAR, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos.699 & 709/Del/2024 [Assessment Years : 2013-14 & 2014-15] Raj Kumar DAGA HUF vs ACIT 7/18, Kalkaji, Delhi-110019. Circle-30(1) PAN-AAHHR2840G New Delhi APPELLANT RESPONDENT Appellant by Shri Mayank Patwari, AR & Shri Akash Ojha, Adv. Respondent by Shri Om Parkash, Sr.DR Date of Hearing 28.08.2025 Date of Pronouncement 26.11.2025 ORDER PER MANISH AGARWAL, AM : The captioned appeals are filed by the assessee against the separate ord…

Raj Kumar Daga HUF, Delhi vs. ACIT Circle 30(1), New Delhi

In the result, appeal of the assessee is allowed

ITA 699/DEL/2024[2013-2014]Status: DisposedITAT Delhi26 Nov 2025AY 2013-2014

Bench: Shri Sudhir Kumar & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 234Section 234ASection 250

…ITA Nos.699 & 709/Del/2024 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “C” BENCH: NEW DELHI BEFORE SHRI SUDHIR KUMAR, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos.699 & 709/Del/2024 [Assessment Years : 2013-14 & 2014-15] Raj Kumar DAGA HUF vs ACIT 7/18, Kalkaji, Delhi-110019. Circle-30(1) PAN-AAHHR2840G New Delhi APPELLANT RESPONDENT Appellant by Shri Mayank Patwari, AR & Shri Akash Ojha, Adv. Respondent by Shri Om Parkash, Sr.DR Date of Hearing 28.08.2025 Date of Pronouncement 26.11.2025 ORDER PER MANISH AGARWAL, AM : The captioned appeals are filed by the assessee against the separate ord…

M/S Stanford Developers, Neemrana Alwar vs. Income Tax Officer, Behror

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

ITA 405/JPR/2025[2018-19]Status: DisposedITAT Jaipur10 Sept 2025AY 2018-19

Bench: Him.

For Appellant: Sh. S. L. Poddar, Adv. &For Respondent: Mrs. Alka Gautam, CIT- DR a
Section 115BSection 142(1)Section 143(1)Section 143(3)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. No. 405/JPR/2025 fu/kZkj.k o"kZ@Assessment Years : 2018-19 cuke M/s Stanford Developers Income Tax Officer Vs. Near R.C. Motors Ward, Janaksinghpura, Behror Neemrana, Alwar. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ACHFS3932Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. S. L. Poddar, Adv. & Miss Twin…

Principal Commissioner of Income Tax-12, Kolkata vs. M/S.Soorajmull Nagarmull

In the result, the appeal is dismissed and the substantial questions of

ITAT/46/2020HC Calcutta23 Nov 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 148Section 260ASection 41Section 41(1)

…ssioner of Income Tax - III Versus Shri Vardhman Overseas Limited 13 has considered all the decisions which we have referred above and explained the legal position in the following terms: 13 (2011) 16 Taxmann.com 350 (Del) ITAT NO. 46 OF 2020 REPORTABLE Page 15 of 22  It may at once be noticed that the decision cannot be understood as explaining the conditions of applicability of section 41(1)…

Income Tax Officer, Dhar vs. Shri Sunil Kumar Jain Prop. M/S Sunil Traders, Kanwan, Badnagar

In the result, Revenue’s appeal is dismissed

ITA 793/IND/2018[2014-15]Status: DisposedITAT Indore21 Nov 2022AY 2014-15

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Ashish Porwal, Sr.DRFor Respondent: Date of Hearing
Section 142(1)Section 143(3)Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE Ms. MADHUMITA ROY, JUDICIAL MEMBER & SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER I.T.A. No.793/Ind/2018 (Assessment Year: 2014-15) Income-tax Officer Vs. Shri Sunil Kumar Jain Aayakar Bhawan, Dhar Prop. M/s. Sunil Traders, Kanwan, Tehsil-Badnawar, Distt. Dhar (M.P.) Survey No. 314/3, SDA Compound, Lasudiya Mori, Indore, Madhya Pradesh - 452001 PAN No. AFSPJ4881P (Appellant) .. (Respondent) Appellant by : Shri Ashish Porwal, Sr.DR Shri Pankaj Shah, A.R. Respondent by : Date of Hearing 14.09.2022 Date of Pronouncement 21 .11.2022 O R D E R…

Amway India Enterprises Pvt. Ltd., New Delhi vs. Addi. Natioanl E- Assessment Centre, New Delhi

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

ITA 804/DEL/2021[2016-17]Status: DisposedITAT Delhi30 Mar 2022AY 2016-17

Bench: Shri R.K. Panda & Shri Challa Nagendra Prasadassessment Year: 2016-17 Amway India Enterprises Pvt. Ltd., Vs Addl. National E-Assessment 1St Floor, Elegance Tower, Centre, Plot No.8, Non Heirarchial New Delhi. Commercial Centre, Jasola Vihar, New Delhi – 110 025. Pan: Aaaca5603Q (Appellant) (Respondent) Assessee By : Shri Sudesh Kumar Garg, Advocate Ms Bhavya Garg, Ca & Shri Prince Bansal, Ca Revenue By : Shri Surender Pal, Cit, Dr Date Of Hearing : 08.02.2022 Date Of Pronouncement : 30.03.2022 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 30Th April, 2021 Passed By The Ao U/S 143(3)/144C(13) R.W.S. 144B Of The It Act, 1961 For The Assessment Year 2016-17. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Wholly Owned Subsidiary Of Amway Corporation Engaged In The Business Of Direct Selling Of Consumer Products. It Sells Its Products Through Multi-Level Marketing (Mlm). Mlm Marketing Allows Direct Sellers To Build A Business Through Their Own Sales Efforts & Inviting Others To Become Direct Sellers. The Assessee Filed Its Return Of Income On 30.11.2016 Declaring A Loss Of Rs.113,69,23,009/-. Since The Assessee Had Entered Into Certain International Transactions With Its Ae, The Ao Referred The Matter To The Tpo For Determination Of The Alp Of The International Transaction Entered Into By It.

For Appellant: Shri Sudesh Kumar Garg, AdvocateFor Respondent: Shri Surender Pal, CIT, DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I-1 : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER Assessment Year: 2016-17 Amway India Enterprises Pvt. Ltd., Vs Addl. National E-Assessment 1st Floor, Elegance Tower, Centre, Plot No.8, Non Heirarchial New Delhi. Commercial Centre, Jasola Vihar, New Delhi – 110 025. PAN: AAACA5603Q (Appellant) (Respondent) Assessee by : Shri Sudesh Kumar Garg, Advocate Ms Bhavya Garg, CA & Shri Prince Bansal, CA Revenue by : Shri Surender Pal, CIT, DR Date of Hearing : 08.02.2022 Date of Pronouncement : 30.03.2022 ORDER…

DCIT, Cirlce- 16(2), New Delhi vs. Meyer Apparel Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 4541/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Dec 2020AY 2012-13

Bench: Shri Prashant Maharishi & Shri K.N. Chary

Section 115Section 14Section 14A

…ITA No. 4541Del/2017 Meyer Apparel Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI K.N. CHARY, JUDICIAL MEMBER ITA No.-4541/Del/2017 (Assessment Year:2012-13) DCIT Vs. Meyer Apparel Ltd. Circle 16(2) D-219, Sushil Bhawan, New Delhi. Vivek Vihar-1, New Dlehi. PAN No. AAACG3928L Appellant Respondent Revenue by Sh. Jagdish Singh Dahiya, Sr. DR Assessee by Sh. Vinod Kumar Bindal, CA Ms. Rinky Sharma, CA Date of hearing: 30.12.2020 Date of Pronouncement : 30.12.2020 ORDER PER K. NARASIMHA CHARY, JM Aggrieved by the order dated 6/4/…

Jashojit Mukherjee, Kolkata vs. ACIT, Cir-50, Kolkata

In the result, the appeal of the assessee is allowed

ITA 403/KOL/2017[2012-13]Status: DisposedITAT Kolkata04 May 2018AY 2012-13

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 403/Kol/2017 Assessment Year : 2012-13 Jashojit Mukherjee -Vs- Acit, Circle-50, Kolkata [Pan: Afapm 7208 R] (Appellant) (Respondent)

For Appellant: Shri P.K. Himmatsinghka, ARFor Respondent: Shri Sallong Yaden, Addl. CIT
Section 133(6)Section 139(4)Section 143(2)Section 143(3)Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Shri S.S. Godara, JM & Shri M.Balaganesh, AM ] I.T.A No. 403/Kol/2017 Assessment Year : 2012-13 Jashojit Mukherjee -vs- ACIT, Circle-50, Kolkata [PAN: AFAPM 7208 R] (Appellant) (Respondent) For the Appellant : Shri P.K. Himmatsinghka, AR For the Respondent : Shri Sallong Yaden, Addl. CIT Date of Hearing : 26.04.2018 Date of Pronouncement : 04.05.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the assessee arises out of the order of the Learned Commissioner of Income Tax(Appeals)-15, Kolkata [in short the ld CIT(A)] in Appeal N…