LEAD: Public allegations are circulating here that Gen. Manuel Antonio Noriega, the Panamanian leader, aided in the clandestine return to Argentina of the colonel who led a rebellion in the army two weeks ago.
Public allegations are circulating here that Gen. Manuel Antonio Noriega, the Panamanian leader, aided in the clandestine return to Argentina of the colonel who led a rebellion in the army two weeks ago.
Eduardo Angeloz, the presidential candidate of the governing Radical Civic Union in elections next May, said that if it were up to him he would break diplomatic relations with Panama until the matter is clarified. But the Government of President Raul Alfonsin has officially ignored the reports, refusing to say whether it believes them or has any evidence to support them.
Col. Mohammed Ali Seineldin, the leader of the revolt, returned to Argentina on Dec. 1 after more than three years in Panama, where he served first as a military attache and later as a trainer. Landing in Buenos Aires on the hydrofoil boat that provides regular passenger service across the Rio de la Plata between here and Uruguay, he went directly to the Campo de Mayo base to take command of the uprising. 'Tough' Response Asked
The unconfirmed reports, some of them said to have first appeared on European news services and others consisting of vague insinuations and speculation in Argentine publications, maintain that Colonel Seineldin flew from Panama to Paraguay on a plane provided by General Noriega, then crossed into Uruguay and bought passage on the hydrofoil.
Mr. Angeloz, who is currently Governor of the province of Cordoba, commented to journalists recently that ''Argentine democracy has been assaulted and we ought to respond in a tough way to those whose behavior has been more than dubious in the recent episodes.''
Without saying where he obtained his information, Mr. Angeloz said he thought Colonel Seineldin had the support of Panamanian authorities in his return home.
''It would be difficult for something of that nature to occur without the consent of General Noriega,'' he added. ''If it depended on me, I would interrupt relations with the Panamanian regime.''
The Panamanian Foreign Minister, Jorge Ritter, was quoted recently in news service reports from Panama as denying the involvement of his Government in the episode. Rebel Leader Surrenders
As far as could be learned, the Argentine Foreign Ministry has made no formal protest. Neither President Alfonsin's spokesman nor the Defense Ministry responded to requests for comments on the reports.
Colonel Seineldin gave himself up to superiors on Dec. 6 after loyalist troops drove tanks to the gates of the base that he was holding and military leaders held long private talks with him.
Although President Alfonsin and the army Chief of Staff, Gen. Jose Dante Caridi, denied that concessions were made to the rebels, long-postponed military pay raises were granted this week.
In addition, the President has indicated he wants to find a way to satisfy the widespread desire within the armed forces for Argentine society to ''vindicate'' the military for its conduct in the anti-insurgency campaign of the mid-1970's, when at least 9,000 people were killed while in detention.
Aside from the possibility of a general amnesty, it is not clear what this might mean. The President and other political and military leaders have spoken of the need to find a way to reintegrate the discredited armed forces into society. Passed Over for Promotion
These questions were also major elements in two previous army rebellions put down by the Alfonsin Government, one in April 1987 and the other in January. Leaders of all three rebellions maintained they had no desire to overthrow the civilian Government.
Colonel Seineldin, who is said to enjoy a wide following within the army, had long been viewed by the Government as a potential rebel, even in faraway Panama. He was effectively passed over recently for promotion to general by being placed low on the promotion list. At the same time, he was told to report back to Argentina on Dec. 13 to be placed on the so-called ''available'' list of inactive officers. After a year on the list, he would be forced to retire.
In statements during the rebellion, he said he had been aware while in Panama of being followed by agents of an Argentine intelligence service that works directly for President Alfonsin.
The various news reports on Colonel Seineldin's return assert that he decided to come back secretly before his reporting date and, for that, General Noriega put a Lear jet at his disposal. Magazine Gives Movements
The Uruguayan weekly magazine Busqueda, citing Uruguayan immigration authorities, said last week that Colonel Seineldin boarded the hydrofoil at 4 P.M. on Dec. 1 in Colonia, the departure point for the craft on the Uruguayan side.
Danilo Arbilla, managing editor of Busqueda, said in a telephone interview that reporters for the magazine were unable to establish how Colonel Seineldin had entered Uruguay. But he said the authorities there speculated that he had flown from Paraguay on a small plane used by smugglers, which may have landed at an unlighted landing strip near Carmelo, a short distance northwest of Colonia.