Primary Addition to Income by AO was deleted on Appeal, No Correction of Arithmetical mistake by invoking sec 263 Survive: ITAT [Read Order]

Primary Addition - Income - AO - Arithmetical mistake - ITAT - Taxscan

The Cuttack Bench of Income Tax Appellate Tribunal has held that primary addition to income by AO was deleted on appeal, no correction of arithmetical mistake by invoking sec 263 survive. The appellant, Kyal Agencies Private Limited, is engaged in the business of medicine. During scrutiny assessment, the AO disallowed the sundry creditors of the…

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