In the result, the appeal of the assessee is partly allowed in the manner indicated above
Bench: Shri Sanjay Garg & Shri Bijayananda Prusethआयकरअपीलसं./Ita No.265/Srt/2025 Assessment Year: 2016-17 (Hybrid Hearing) Shri Sunik Kumar Mehta बनाम/ Ito, A – 24, Asthvinayak Complex, Vs. Ward- 2(2)(1), Dariapur, Ahmedabad - 380004 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Allpm1108P (Appellant) (Respondent) Appellant By Shri Chirag Shah, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 11/08/2025 Date Of Pronouncement 07/11/2025
bogus transactions amounting to Rs.89,53,637/- with M/s. Smart Art Graph Advertising Pvt. Ltd. On the basis of this information and after recording reasons to believe that income has escaped assessment, case of the assessee was reopened after following due procedure and notice u/s.148 of the Act was issued to the assessee. Subsequently, assessee was requested to furnish details/documentary