https://www.taxtmi.com/caselaws?id=311352 A chartered accountant is liable for professional misconduct only where a material omission is shown to be knowing and culpable; mere negligence or an error of judgment is insufficient. The HC held that the auditor was not bound to suspect irregularity absent material raising suspicion, and on the facts there was no proof that he knew the managing agents' term had expired or consciously suppressed that fact in the accounts. His conduct was therefore at most an excusable mistake, not professional misconduct, and the exoneration by the Council was upheld. en-us Fri, 03 Jan 1964 00:00:00 +0530 Thu, 21 Dec 2023 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311352 A chartered accountant is liable for professional misconduct only where a material omission is shown to be knowing and culpable; mere negligence or an error of judgment is insufficient. The HC held that the auditor was not bound to suspect irregularity absent material raising suspicion, and on the facts there was no proof that he knew the managing agents' term had expired or consciously suppressed that fact in the accounts. His conduct was therefore at most an excusable mistake, not professional misconduct, and the exoneration by the Council was upheld. Case-Laws Indian Laws Fri, 03 Jan 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311352