N number of rows & n Number of column editor

Is there any control similar to spread sheet(Similar to EXcel aplication of Microsoft) in visual stidio??
No, but you can use Excel thru the COM interface. Of course, the client will have to have Excel installed.
Unless you wanted to use a list-view box, and you can set it to "Report Mode". Then you can set it to have grid lines. This is similar to excel, though of course it isn't anywhere near as advanced.

If you want to know how to use list-view controls, just look it up on MSDN:

Or there are probably some tutorials online for using them.
Is it possible to edit list view item manually(By end user)?
Yes, it is. You can set the list view to have editable cells by setting the LVS_EDITLABELS style. Just remember that you also need to process the LVN_ENDLABELEDIT notification, otherwise nothing will happen.
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