Revision proceedings cannot be sustained if assessee opted to settle dispute under DTVSV Scheme

Pavan Kandkur Vs PCIT (ITAT Bangalore) Conclusion: In present facts of the case, the ITAT observed that proceedings under Section 263 of Income Tax Act, 1961 cannot be sustained if the tax payer had opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020. Facts: In present facts of the case, the appeal was filed by the assessee against the order of the learned CIT, Hubali passed under Section 263 of the Income Tax Act, 1961 (the Act) dated 23.03.2022 for AY 2017-18. The brief facts of the case were that the assessee is a proprietor of the firm HVK Agencies, which is into th...