TMI Blog2016 (5) TMI 798X X X X Extracts X X X X X X X X Extracts X X X X ..... the income is offered, then the same cannot be withdrawn. - When the return of income was filed voluntarily, no addition was made and the income returned was accepted, without making any addition, the petitioner cannot now take a stand that the statement was given only on the threat made by the respondent. As rightly pointed out by the respondent, the petitioner cannot plead ignorance and that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of certiorarified mandamus to call for the records of the respondent in C.No.407/11/2002-03 dated 13.02.2004 and quash the impugned order and consequently direct the respondent to grant relief to the petitioner for the assessment year 2000-01. 2. It is the case of the petitioner that it is a Partnership Firm consisting of four partners, engaged in the business of manufacture and sale of tiles ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Act and held that once the income is offered, then the same cannot be withdrawn. 3. Mr.R.Senniappan, learned counsel appearing for the petitioner submitted that the petitioner did not voluntarily admit an income of ₹ 25,00,000/- at the time of survey and that the statement was given only on the threat made by the respondent. The petition filed under Section 264 of the Income Tax Act wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preme Court reported in 261 ITR 367 (SC) in the case of CIT vs. Shelly Products, wherein it has been held that the Act enjoins upon the assessee the duty to file a return of income disclosing his true income and the filing of the return and payment of tax thereon amounts to an admission of tax liability which the assessee admits to have incurred in accordance with the Act. 5. Learned counsel ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the income that has to be assessed in the hands of partners are to be excluded. Further the respondent had pointed out that in spite of the assessee has the option to file revised return till 31.03.2002 as per the provisions of Section 139(5) of the Income Tax Act, the assessee did not opt to do so. The finding of the respondent that the assessee's contention is a clear after thought is cor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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