2002 (10) TMI 747

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....ucts, viz., maida and suji. For the assessment year 1991-92, the assessee filed returns declaring a total taxable turnover of Rs. 5,05,85,244.40 and Rs. 1,28,86,740.08 claiming exemption on the sales turnover of wheat products amounting to Rs. 3,43,92,149.82. Similarly, for the assessment year 1992-93, the assessee filed return declaring Rs. 5,89,89,500.51 and Rs. 6,92,247.48 as the gross and total turnover claiming exemption on the sales tax turnover of wheat products amounting to Rs. 5,75,28,426.48. The assessing authority initiated penalty proceedings and issued notice for the assessment year 1991-92 stating that the return for the assessment year 1991-92 was incorrect and untrue. According to the assessee the wheat and wheat products a....

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....ommissioner. The Assistant Commissioner, after hearing the arguments, imposed the penalty of Rs. 62,00,000. Against that a revision was filed before the Deputy Commissioner, Agricultural Income-tax and Sales Tax, Palakkad. The Deputy Commissioner reduced it to Rs. 7,31,800 for 1991-92 and Rs. 12,40,000 for 1992-93. Finally, the assessee took the matter before the Government. The Government dismissed the revision. It is against that the original petition was filed. 4.. The main argument of the learned counsel for the assessee is that return can be said to be untrue only if the assessee has filed the return knowingly that it is not correct. According to him, till the Supreme Court decision came in 1993, there are decisions to the effect that....