1984 (1) TMI 288

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..... has been upheld by the Tribunal is questioned. In this case, admittedly, the assessee has not submitted the monthly returns for August, 1979, and February and March, 1980. It is also not in dispute that the failure to submit the monthly returns for the above three months within the prescribed time falls within section 12(4)(ii) as the account books maintained by the dealer were found to have been .....

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..... e learned counsel for the assessee is not able to substantiate his claim that no penalty could be levied under section 12(5)(ii). The learned counsel then contends that it is only a technical default and for that the levy of penalty is not justified, especially when the assessee itself has voluntarily submitted a consolidated return comprising February and March, 1980. Even assuming that the asses .....

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