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Revision Barred After VSV Settlement: ITAT Rules Section 263 Cannot Reopen Concluded Disputes
Case Law Details
- Case Name
- Talha Agency Vs PCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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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...
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