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2018 (4) TMI 371 - MADRAS HIGH COURTAssessment of turnover - penalty u/s 12(3)(b) of the Act - Held that: - Section 12(3)(b) of the Act deals with, submission of incorrect or incomplete return and for the purpose of levy of penalty - There is no suppression in the books of accounts and this fact has been categorically stated by the appellate authority, in his order, in which event, the assessee is entitled to invoke explanations (i) and (ii) to Section 12(3)(b) of the Act - revision dismissed - decided against Revenue.
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