Revision Barred After VSV Settlement: ITAT Rules Section 263 Cannot Reopen Concluded Disputes

Talha Agency Vs PCIT (ITAT Ahmedabad) VSV Means Full Stop – Vivad Se Vishwas Closes All Doors- Once Settled, Always Settled: ITAT Quashes 263 Revision Post-Settlement Assessee challenged PCIT’s order dated 15.03.2022 passed u/s 263. AO had already completed assessment & Assessee subsequently opted for settlement under the Direct Tax Vivad Se Vishwas Act, 2020 (VSV). Despite the dispute having been resolved under VSV, PCIT invoked revisionary jurisdiction u/s 263 on the very same issue. Tribunal held that once a taxpayer opts for & finalises VSV settlement, all matters covered t...