2009 (4) TMI 835

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.... ORDER Order of The Court Was Delivered By K. Raviraja Pandian,J. The correctness of the order of the Sales Tax Appellate Tribunal, (Additional Bench), Madurai dated 13.7.2001 in T.A.No.265 of 1999 in bringing the value of the lorry sold by the assessee for taxation and the imposition of penalty under Section 12(5)(iii) of the T.N.G.S.T.Act is put in issue in this revision. 2. The simp....

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....the Act is concerned, it is submitted that the assessee has not suppressed the turnover on the sale of lorry. The turnover is very much available in the books of accounts as well as returns. By no stretch of imagination, the return so filed by the assessee/revision petitioner can be regarded as incorrect and incomplete return so as to attract the penal provisions of Section 12(5)(iii). 4. We al....

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....ifty per cent but which shall not be more than one hundred and fifty per cent of the tax assessed in the case of wilful failure to submit a return. Sec.12(4) Notwithstanding anything contained in sub-sections (1), (2) and (3), the assessing authority may, if it is satisfied that the accounts maintained by a dealer are correct, assess such dealer on the basis of such accounts, if such dealer has....

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....e default in the submission of the return continued, subject to a maximum of fifty per cent of the tax; and (iii) which, in the case referred to in clause (iii) of sub-section (4), shall not be less than fifty per cent but shall not be more than one hundred and fifty per cent of the difference in tax payable on the turnover disclosed in the return and that determined by the assessing authority:....