Mere Wrong Audit Report Entry Can’t Justify U/s 143(1) Disallowance: ITAT Kolkata

Concord Fortune Minerals India Pvt. Ltd. Vs ACIT (ITAT Kolkata)

Wrong Audit Report Entry Corrected – Disallowance Made u/s 143(1) Deleted

The Kolkata ITAT allowed the assessee’s appeal and deleted the addition of ₹40.95 lakh made under Section 143(1) on the basis of a mistaken entry in the Tax Audit Report. The Tribunal noted that the auditor had wrongly reported club expenditure of ₹41,42,088 instead of the correct figure of ₹41,421 in clause 21(a) of the audit report. This clerical error was subsequently rectified by fili

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