Income Mismatch with Form 26AS: ITAT Directs Re-Adjudication

Advertisement Mohammed Meraj Vs ACIT (ITAT Kolkata) Introduction: In the case of Mohammed Meraj Vs ACIT, the Income Tax Appellate Tribunal (ITAT) in Kolkata has called for a reassessment on account of a mismatch between Form 26AS and the income stated in the assessee’s Profit & Loss account. The issue at the core of the dispute revolves around an addition of Rs. 1,49,80,435/- by the Assessing Officer, which Meraj, who earns income from a transport services business, contested. Analysis: The crux of the disagreement involves discrepancies in Meraj’s reported earnings from 21 ...