ACIT, CENTRAL CIRCLE-2, VADODARA, VADODARA vs. HK ISPAT PVT LTD, GODHRA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

10-05-2023 wherein he has not doubted the sources of loan given to the appellant. When the assessment of the depositor has been completed u/s 153C of the Act pursuant to same search as has been carried out in present case, addition u/s 68 of the Act for loan taken from such party does not survive. It is found

ACIT, CENTRAL CIRCLE-2, VADODARA, VADODARA vs. HK ISPAT PVT LTD, GODHRA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–