2015 (4) TMI 706

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..... essee that it was a case of mistake. He noticed that there was no dispute about figures and the transactions in question. The first transaction and full gain was disclosed by the respondent-assessee as short-term capital gains. The assessee had paid tax @ 10% which was applicable to short-terms capital gains. The Assessing Officer had observed that tax at normal rate of 30% was applicable. The ass .....

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..... or?which we are all prone to make. The caliber and expertise of the assessee has little or nothing to do with the inadvertent error. That the assessee should have been careful cannot be doubted, but the absence of due care, in a case such as the present, does not mean that the assessee is guilty of either furnishing inaccurate particulars or attempting to conceal its income. Consequently, given th .....

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