₹5.98 Lakh Addition due to Clerical Error in Depreciation: ITAT sets aside for Re-examination [Read Order]

The assessee clarified that the discrepancy resulted from a change in the depreciation method rather than an asset sale

By Sneha Sukumaran Mullakkal - On March 7, 2025 6:11 am - 2 mins read

ITAT - ITAT Raipur - Income tax addition - Addition Due to Clerical Error - TAXSCAN

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) set aside the addition of ₹5.98 lakh made due to a clerical error in depreciation for re-examination. Panchsheel Solvent Pvt. Ltd.,appellant-assessee,was engaged in manufacturing and trading edible oil and rice bran oil. It filed its return for AY 2016-17 on March 27, 2018, declaring Nil income….

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