Case Restored Because Form 26AS Alone Cannot Justify Taxing Rs. 3.65 Crore

Dharmendra Sharma Vs Jurisdictional Assessing Officer (ITAT Agra) Form 26AS alone cannot tax Rs.3.65 Crore— Mining Receipts Mismatch: Tribunal Restores Case to AO for Full Re-Verification Assessee, a mining licence holder, declared income of Rs.4,91,830. Form 26AS reflected mining receipts of Rs.3,65,25,000 with TCS of Rs.7,30,500 collected by Collector, Gwalior. AO treated entire Rs.3.65 crore as business income solely based on Form 26AS, ignoring Assessee’s explanation   that mining rights were sub-leased to various crusher units, royalty was actually received at only Rs.18,68,234, &am...