DIAMOND HOSIERY MILLS PRIVATE LIMITED,LUDHIANA vs. ITO, WARD -7(1), LUDHIANA
In the result, appeal of the Assessee is allowed
ITA 363/CHANDI/2022[2017-18]Status: DisposedITAT Chandigarh11 Apr 2025AY 2017-18
Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपीलसं . / ITA No.363 /Chd/2022 निर्धारणवर्ष / Assessment Year : 2017-18 Diamond Hosiery Mills Private बनाम The ITO Limited Ward-7(1), 620/8, Kundan Puri, Civil Lines, Ludhiana Ludhiana स्थायीलेखासं./PAN NO: AABCD7485Q अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Parikshit Aggarwal, C.A राजस्वकी ओर से / Revenue by : Shri Chandrajit Singh, CIT, DR सुनवाईकीतारीख / Date of Hearing : 20/01/202
For Appellant: Shri Parikshit Aggarwal, C.AFor Respondent: Shri Chandrajit Singh, CIT, DR
Section 143(3)Section 263Section 263(1)
reassessment proceedings that followed, the assessee provided a comprehensive reply to the AO.
On examining the matter, the AO accepted the assessee’s explanation regarding the mismatch between the shareholder list and the balance sheet, and acknowledged that it was a clerical error, not warranting any addition. This clearly indicates that the addition contemplated in the original show cause notice
