How many judgments cite V.R. Global Energy (P) Ltd. v. ITO?

13 judgments on BharatTax cite V.R. Global Energy (P) Ltd. v. ITO (96 Taxmann.com 647), spanning 2018 to 2025.

Which sections of the Income Tax Act does V.R. Global Energy (P) Ltd. v. ITO come up under?

It is most often cited in judgments turning on Section 143(3), Section 250, Section 68, Section 143(2), Section 10(1), Section 10(2A).

V.R. Global Energy (P) Ltd. v. ITO

96 Taxmann.com 647High Court2018#8571 most cited

What is V.R. Global Energy (P) Ltd. v. ITO authority for?

Where share capital is received only by way of book adjustments and not actual cash, the amount cannot be treated as income from undisclosed sources and additions under section 68 are set aside. This is because there must be an actual flow of funds before the assessee needs to provide an explanation.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2025.

Also referred to as

V.R. Global Energy (P) Ltd. v. ITO · section 68 · cash credit · share capital · book adjustment · actual flow of funds · unexplained cash credit · creditworthiness of creditor · Section 131 · Section 133(6)

Sections most often in play

Section 143(3)Section 250 Section 68 Section 143(2)Section 10(1)Section 10(2A)Section 115BBE Section 131

Issues it is cited on

share capital and share premium creditworthiness of the creditor addition under section 68 unexplained cash credit genuineness of the transaction section 131 section 133(6)section 10 section 68 previous year appeal before the tribunal transfer

Judgments citing V.R. Global Energy (P) Ltd. v. ITO

Arjun Shetty, Mangaluru vs. Income Tax Officer, Tps, Circle - 1(1), Mangaluru

In the result, appeal filed by the assessee is allowed

ITA 61/BANG/2025[2018-19]Status: DisposedITAT Bangalore29 Oct 2025AY 2018-19

Bench: Shri.Laxmi Prasad Sahu & Shri.Keshav Dubeyassessment Year : 2018-19 Arjun Shetty, Vs. Ito, 16-6-393/9 Shubha Krishna Building, Ward – Tps, Highland Falnir, Mangalore - 575002. Circle – 1(1), Pan :Ainps5294H Mangalore. Appellant Respondent Assessee By : S/Shri. Pranav G Ambekar, V. Narendra Sharma, Advocates Revenue By : Shri. Nilanjan Dey,Jcit(Dr)(Itat), Bangalore. Date Of Hearing : 15.09.2025 Date Of Pronouncement : 29.10.2025

For Appellant: S/Shri. Pranav G Ambekar, V. Narendra Sharma, AdvocatesFor Respondent: Shri. Nilanjan Dey,JCIT(DR)(ITAT), Bangalore

Section 10Section 10(1)Section 143(2)Section 143(3)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI.LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI.KESHAV DUBEY, JUDICIAL MEMBER Assessment Year : 2018-19 Arjun Shetty, Vs. ITO, 16-6-393/9 Shubha Krishna Building, Ward – TPS, Highland Falnir, Mangalore - 575002. Circle – 1(1), PAN :AINPS5294H Mangalore. APPELLANT RESPONDENT Assessee by : S/Shri. Pranav G Ambekar, V. Narendra Sharma, Advocates Revenue by : Shri. Nilanjan Dey,JCIT(DR)(ITAT), Bangalore. Date of hearing : 15.09.2025 Date of Pronouncement : 29.10.2025 O R D E R Per Laxmi Prasad Sahu, Accountant Member : This appeal is filed by the…

ITO, Ward-25(2), New Delhi vs. Telplay Packaging Solutions P.Ltd, New Delhi

The appeal of the Revenue is dismissed

ITA 5892/DEL/2017[2012-13]Status: DisposedITAT Delhi07 Mar 2025AY 2012-13

Bench: SHRI ANUBHAV SHARMA (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

Section 143(3)Section 14ASection 234BSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER M/s Telplay Packaging Income Tax Officer Solutions Pvt. Ltd. Ward-25(2), Vs. (Formerly known as M/s. New Delhi. MGG Paper Packaging Solutions Pvt. Ltd.,) B-729 DDA Flats Jasola Vihar New Delhi-110025. PAN-AAFCM8819B (Appellant) (Respondent) Assessee by None Department by Shri Sahil Kumar Bansal, Sr. DR Date of Hearing 13/02/2025 Date of Pronouncement 07/03/2025 O R D E R PER MANISH AGARWAL, AM: This appeal is filed by the Revenue against the order of the Com…

ACIT Circle-22(1), Mumbai vs. Raheja Legacy Trust, Mumbai

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

ITA 2826/MUM/2024[2018-19]Status: DisposedITAT Mumbai28 Jan 2025AY 2018-19

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

For Appellant: Shri Bharat Raichandani & Bhagrati SahuFor Respondent: Smt. Sanyogita Nagpal, CIT/DR

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “D”, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Assessment Year: 2018-19 Raheja Legacy Trust ACIT, Circle-22(1), Mumbai 5th Floor, Raheja Centre Point, vs. 294, C.S.T. Road, Santacruz (East), Mumbai-400098. PAN: AABTR 4447 F (Appellant) (Respondent) Assessment Year: 2018-19 ACIT, Circle-22(1), Raheja Legacy Trust Mumbai 5th Floor, Raheja Centre Point, vs. 294, C.S.T. Road, Santacruz (East), Mumbai-400098. PAN: AABTR 4447 F (Appellant) (Respondent) Present for: Assessee by : Shri Bharat Raichandani & Bhagrati S…

Raheja Legency Trust, Mumbai vs. ACIT, Cir-22(1), Mumbai

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

ITA 2268/MUM/2024[2018-19]Status: DisposedITAT Mumbai28 Jan 2025AY 2018-19

Bench: Shri Saktijit Dey & Shri Amarjit Singhassessment Year: 2018-19

For Appellant: Shri Bharat Raichandani & Bhagrati SahuFor Respondent: Smt. Sanyogita Nagpal, CIT/DR

Section 250Section 68

Acuity Merchants Pvt. Ltd., Kolkata vs. ITO, Ward-4(3), Kolkata.

In the result, the appeal of the assessee is treated as allowed for statistical purposes

ITA 1338/KOL/2023[2017-18]Status: DisposedITAT Kolkata20 May 2024AY 2017-18

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1338/Kol/2023 Assessment Year : 2017-18 Acuity Merchants Pvt Ltd.……..…………............…...……………....Appellant Amrita Abasan, Bimalendu Ghosh Sarani, Sonarpur, Kolkata- 700150. [Pan: Aaica4474D] Vs. Ito, Ward-4(3), Kolkata……...............................................…..…..... Respondent Appearances By: Shri S. K. Tulsiyan, Advocate, Appeared On Behalf Of The Appellant. Shri S. Datta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 20, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 25.10.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A), Nfac, Delhi Erred In Law In Having Upheld The Addition Of Rs 8.61,73,500/- U/S 68 Of The Act Without Properly Appreciating The Admitted Facts On Record That The Assessee Had Received Loans In The Form Of Shares Only From Various Parties/Creditors Duly Reflected In The Demat Account & Not Any Fund Transacted Either Through Bank Or Cash Book & Hence Such Receipt Of Shares As Loan Did Not Amount To Cash Credit As Envisaged U/S 68 Of The Act.

Section 115BSection 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘ए’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.1338/Kol/2023 Assessment Year : 2017-18 Acuity Merchants Pvt Ltd.……..…………............…...……………....Appellant Amrita Abasan, Bimalendu Ghosh Sarani, Sonarpur, Kolkata- 700150. [PAN: AAICA4474D] vs. ITO, Ward-4(3), Kolkata……...............................................…..…..... Respondent Appearances by: Shri S. K. Tulsiyan, Advocate, appeared on behalf of the…

ACIT Central Circle 2(1), Chennai vs. Anjana Medicare Services P. Ltd., Trichy

In the result, the revenue’s appeal stand dismissed

ITA 3144/CHNY/2017[2009-10]Status: DisposedITAT Chennai13 Jul 2022AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: S/Shri G. Baskar & I. Dinesh (Advocates)-Ld. ARsFor Respondent: Shri M. Rajan (CIT) –Ld. DR

Section 143(3)

…आयकर अपीलीय अिधकरण ‘सी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी महावीर िसंह, उपा01 एवं माननीय +ी मनोज कुमार अ6वाल ,लेखा सद9 के सम1। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA No.3144/Chny/2017 (िनधाBरण वषB / Assessment Year: 2009-10) ACIT M/s. Anjana Medicare Services P. Ltd. बनाम/ Central Circle-2(1), No.95, Pattabiraman Pillai Street, Vs. Chennai. Thennur, Trichy-620 017. "थायी लेखा सं./जीआइ आर सं./PAN/GIR No. AAGCA-0294-F (अपीलाथ"/Appellant) : (""थ" / Respondent/Cross Objector) & C.O No.36/Chny/2018…

Anil Mithas, Noida vs. DCIT, Circle- 27(1), New Delhi

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

ITA 7542/DEL/2017[2012-13]Status: DisposedITAT Delhi31 May 2022AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri N.K. Choudhryassessment Year: 2012-13

For Appellant: Ms.Gunjan Jain, C.AFor Respondent: Mrs.KirtiSankratyayan, Sr. DR

Section 143(2)Section 250(6)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’ NEW DLEHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI N.K. CHOUDHRY, JUDICIAL MEMBER Assessment Year: 2012-13 Anil Mithas, vs. DCIT, Circle 27(1), Annati Fortune House, New Delhi. B-117, Sector-67, Noida. PAN : AGIPM0679H (Appellant) (Respondent) Appellant by : Ms.Gunjan Jain, C.A. Respondent by : Mrs.KirtiSankratyayan, Sr. DR Date of hearing : 10.05.2022 Date of order : 31.05.2022 ORDER PER N.K. CHOUDHRY, J.M. This appeal has been preferred by the Assessee against the order dated 10.10.2017, impugned herein, passed by the learned Commiss…

M/S.Frohar Trading Private Limited, Mumbai vs. Income Tax Officer 6(3)1, Mumbai

In the result, both the appeals of the assessees are allowed

ITA 543/MUM/2018[2012-13]Status: DisposedITAT Mumbai06 Apr 2021AY 2012-13

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2012-13

For Appellant: Shri Vishnu Aggarwal, A.RFor Respondent: Shri Leena Srivastav, D.R

Section 143(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2012-13 M/s. Frohar Trading Pvt. Income Tax Officer Ltd., 6(3)(1), L/7, A-001 Pratiksha 5th Floor, 524, Nagar, Vs. Aayakar Bhavan, New MHADA Colony, M.K. Road, Sion, Mumbai - 400020 Mumbai-400022 PAN: AACCF0551A (Appellant) (Respondent) Assessment Year: 2012-13 M/s. Fulton Corporation Income Tax Officer Pvt. Ltd., 6(3)(1), L/7, A-001 Pratiksha 5th Floor, 524, Nagar, Vs. Aayakar Bhavan, New MHADA Colony, M.K. Road, Sion, Mumbai - 400020 Mumbai-40002…

ITO, New Delhi vs. M/S. Elative Building Solutions Pvt. Ltd., New Delhi

In the result, appeal of assessee is allowed

ITA 2498/DEL/2017[2012-13]Status: DisposedITAT Delhi24 Mar 2021AY 2012-13

For Appellant: Shri Sudesh Garg, AdvocateFor Respondent: Shri Jagdish Singh, Sr. DR

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : B : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year: 2012-13 ITO, Vs Elative Building Solutions Pvt. Ltd. Ward-8(2), (Formerly M/s Maiden Building CR Building, Solution Pvt. Ltd.), New Delhi. B-5, Nand Ram Park, Bhagat Enclave, Uttam Nagar, New Delhi. PAN: AAHCM7197A (Appellant) (Respondent) Assessee by : Shri Sudesh Garg, Advocate Revenue by : Shri Jagdish Singh, Sr. DR Date of Hearing : 09.02.2021 Date of Pronouncement : 24.03.2021 ORDER PER R.K. PANDA, AM: This appeal filed by the Revenue is direct…

Blooming Tradelink (P) Ltd., Kolkata vs. ITO, Ward - 10(1), Kolkata

In the result, appeal of assessee is allowed

ITA 2691/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2020AY 2012-13

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

Section 133(6)Section 68

…आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम" "ी ए.ट". वक", "या"यक सद"य एवं डॉ ए.एल. सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A.L. Saini, AM] I.T.A. No. 2691/Kol/2018 Assessment Year: 2012-13 Blooming Tradelink Pvt. Ltd. Vs. Income-tax Officer, Ward-10(1), Kolkata (PAN: AAECB5584F) Appellant Respondent For the Appellant Shri Subash Agarwal, Advocate For the Respondent Shri Supriyo Pal, JCIT, DR Date of Hearing 04.02.2020 Date of Pronouncement 28.02.2020 ORDER Per Shri A.T.Varkey, JM: This is an appeal preferred by the assessee against the…

ITO, Ward-14(3), Kolkata vs. M/S Pansu Commercial Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1859/KOL/2017[2012-13]Status: DisposedITAT Kolkata08 May 2019AY 2012-13

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1859/Kol/2017 ("नधा"रणवष" / Assessment Year:2012-13)

For Appellant: Shri Robin Chowdhury, Addl. CIT Sr. DRFor Respondent: Shri Subash Agarwal, Advocate

Section 139(4)Section 143(3)Section 68

…o GB and Co. in exchange for the shares as aforesaid. In the premises, we answer all the questions, in the affirmative and in favour of the assessee and against the Revenue.” 10. The Hon’ble Madras High Court in the case of V R Global Energy Pvt. Ltd. [2018] 96 Taxmann.com 647 (Mad), held that where assessee company allotted share to one VR in settlement of pre-existing liability of assessee to said company. It is only book adjustment entry and not actual receipts therefore conversion of these liabilities into share capital and share premium, should not be treated as unexplained cash credit under section 68 of t…

M/S Abhijeet Enterprise Ltd., Kolkata vs. ITO, Ward 2(2), Kolkata

In the result the appeal of the assessee is allowed for statistical purpose

ITA 308/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Mar 2019AY 2013-14

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

Section 68

…1 Abhijeet Enterprise Ltd. , AY 2013-14 आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” 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. No. 308/Kol/2017 Assessment Years: 2013-14 M/s. Abhijeet Enterprise Ltd. Vs. Income-tax Officer, Wd-2(2), Kolkata (PAN: AAJCA4713C) Appellant Respondent For the Appellant Shri M. D. Shah, AR For the Respondent Shri P. K. Srihari, CIT, DR Date of Hearing 08.03.2019 Date of Pronouncement 27.03.2019 ORDER Per Shri A.T.Varkey, JM This appeal of t…

ITO, Ward-10(1), Kolkata vs. M/S Sunglow Dealcom Private Limited, Kolkata

In the result, appeal of the revenue is dismissed

ITA 2178/KOL/2016[2012-13]Status: DisposedITAT Kolkata16 Nov 2018AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi) Assessment Year: 2012-13 Income Tax Officer, Ward-10(1), Kolkata.……......……......………………..……….…….…............Appellant Vs. M/S. Sunglow Dealcom Private Limited……..........…………..……………….…...……..….…......Respondent 3Rd Floor 89, N.S. Road Kolkata – 700 001 [Pan : Aadcs 7562 F]

Section 133(6)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘D’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Viswanethra Ravi, Judicial Member) Assessment Year: 2012-13 Income Tax Officer, Ward-10(1), Kolkata.……......……......………………..……….…….…............Appellant Vs. M/s. Sunglow Dealcom Private Limited……..........…………..……………….…...……..….…......Respondent 3rd Floor 89, N.S. Road Kolkata – 700 001 [PAN : AADCS 7562 F] Appearances by: Shri S.M. Surana, Advocate, appeared on behalf of the assessee. Shri C.J. Singh, Sr. D/R. appearing on behalf of the Revenue. Date of concluding the hearing : Octobe…