https://www.taxtmi.com/caselaws?id=788830 Failure by a concurrent auditor to promptly report material banking irregularities and breaches of sanctioned limits constituted professional misconduct because due diligence required immediate detection and reporting through audit channels. The absence of mala fides and the explanation offered did not excuse the delay, and the disciplinary inquiry was not disturbed as it was fairly conducted without breach of natural justice. The misconduct finding was sustained, but the proposed six-month removal from membership was reduced to a reprimand because the long lapse of time made the original sanction excessive. en-us Wed, 25 Mar 2026 00:00:00 +0530 Mon, 30 Mar 2026 08:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788830 Failure by a concurrent auditor to promptly report material banking irregularities and breaches of sanctioned limits constituted professional misconduct because due diligence required immediate detection and reporting through audit channels. The absence of mala fides and the explanation offered did not excuse the delay, and the disciplinary inquiry was not disturbed as it was fairly conducted without breach of natural justice. The misconduct finding was sustained, but the proposed six-month removal from membership was reduced to a reprimand because the long lapse of time made the original sanction excessive. Case-Laws Indian Laws Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788830