Clerical Error in Tax Audit Report Cannot Be Treated as Income: ITAT Deletes Addition

Trinity Tradex Pvt Ltd Vs ITO (ITAT Kolkata) The assessee filed appeals against separate orders of the CIT(A) for Assessment Years 2020-21 and 2021-22. Since the issues involved in both appeals were identical, they were heard together and decided through a common order. The first issue related to an addition of ₹9,41,558 made by the Assessing Officer on account of contingent liability. The assessee submitted that while filing the return of income along with the tax audit report, the tax auditor had mistakenly reported a Bank of Baroda bank guarantee amounting to ₹9,41,558 as a contingent l...