https://www.taxtmi.com/highlights?id=30844 A mere omission or negligence would not constitute a deliberate act of either suppressio veri or suggestio falsy. By the mere reason of such concealment or of furnishing of inaccurate particulars alone, the assessee does not, ipso facto, become liable to a penalty. Imposition of penalty is not at all automatic. - AT en-us Thu, 18 Aug 2016 08:18:46 +0530 Thu, 18 Aug 2016 08:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=30844 A mere omission or negligence would not constitute a deliberate act of either suppressio veri or suggestio falsy. By the mere reason of such concealment or of furnishing of inaccurate particulars alone, the assessee does not, ipso facto, become liable to a penalty. Imposition of penalty is not at all automatic. - AT Highlights Income Tax Thu, 18 Aug 2016 08:18:46 +0530 https://www.taxtmi.com/highlights?id=30844