IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA R. KAMBLE, JUDICIAL MEMBER SN ITA/IT(SS)A No. AY Appellant Respondent 1 IT(SS)A No. 2015-16 ACIT, HK Ispat Pvt. Ltd., 73/Ahd/2025 Central Circle-2, R.S. 380, Vejalpur Road, Vadodara Panchmahal, Godhra-389001 [PAN : AACCH 0966 K]

2 IT(SS)A No. 2016-17 ACIT, HK Ispat Pvt. Ltd., 74/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

3 IT(SS)A No. 2017-18 ACIT, HK Ispat Pvt. Ltd., 75/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

4 IT(SS)A No. 2018-19 ACIT, HK Ispat Pvt. Ltd., 76/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

5 IT(SS)A No. 2019-20 ACIT, HK Ispat Pvt. Ltd., 77/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

6 IT(SS)A No. 2020-21 ACIT, HK Ispat Pvt. Ltd., 78/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

7 IT(SS)A No. 2018-19 HK Ispat Pvt. Ltd., DCIT, 80/Ahd/2025 Panchmahal, Godhra Central Circle-2, [PAN : AACCH 0966 K] Vadodara

8 IT(SS)A No. 2019-20 HK Ispat Pvt. Ltd., DCIT, 81/Ahd/2025 Panchmahal, Godhra Central Circle-2, [PAN : AACCH 0966 K] Vadodara

9 IT(SS)A No. 2020-21 HK Ispat Pvt. Ltd., DCIT, 82/Ahd/2025 Panchmahal, Godhra Central Circle-2, [PAN : AACCH 0966 K] Vadodara

10 ITA No. 2014-15 ACIT, HK Ispat Pvt. Ltd., 1277/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

11 ITA No. 2021-22 ACIT, HK Ispat Pvt. Ltd., 1278/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K]

12 ITA No. 2021-22 HK Ispat Pvt. Ltd., DCIT, 1392/Ahd/2025 Panchmahal, Godhra Central Circle-2, [PAN : AACCH 0966 K] Vadodara Assessee represented by : Shri Biren Shah, AR Revenue represented by: Shri R.P. Rastogi, CIT (DR)

Date of Hearing 13.01.2026 / 15.01.2026 Date of Pronouncement 18.03.2026

O R D E R

PER DR. B.R.R. KUMAR, VICE-PRESIDENT:-

IT(SS)A Nos. 76 to 78/Ahd/2025 & ITA No. 1278/Ahd/2025 and IT(SS)A Nos. 80 to 82/Ahd/2025 & ITA No. 1392/Ahd/2025 are the bunch of cross appeals filed by the Revenue and assessee respectively against the orders of the Ld. Commissioner of Income-tax (Appeals)-12, Ahmedabad (hereinafter referred to as the “Ld. CIT(A)” in short) of even dated 28.03.2025 under Section 250 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’ in short) for Assessment Year for AY 2018-19 to 2021-22. IT(SS) Nos. 73 to 75/Ahd/2025 and ITA No. 1277/Ahd/2025 are the appeals filed by the Revenue against the orders of Ld. CIT(A), even dated 28.03.2025, for AYs 2015-16, 2016-17, 2017-18 and 2014-15 respectively. ITA No. 1392/Ahd/2025 is the appeal filed by the assessee against the order dated 28.03.2025 passed by the Ld. CIT(A) for AY 2021-22.

2. Since all these appeals pertain to the same assessee, arise out of the same search action, involve common facts and interconnected issues, they were heard together and are being disposed of by this consolidated order for the sake of convenience.

3. We take-up IT(SS)A No.73/Ahd/2025 for AY 2015-16 as the lead case. In this appeal, the Revenue has raised following grounds of appeal:-

“1. On the facts and in the circumstances of the case and in law the Ld. CIT(A) has erred in deleting the addition of Rs. 2,98,14,OOO/- made by the Assessing Officer under the provisions Section 68 of the Act on account of unsecured loans, despite the fact that the Assessee could not substantiate the same with cogent documentary evidences.

2. On the facts and in the circumstances of the case and in law the Ld. CIT(A) has erred in deleting the addition of Rs. 2,98,14,000/- made by the Assessing Officer under the provisions Section 68 of the Act on account of unsecured loans, despite the fact that the Assessee could not substantiate the same with cogent documentary evidences.

3. On the facts and in the circumstances of the case and in law the Ld. CIT(A) has erred in deleting the addition of Rs. 2,98,14,000/- made by the Assessin