https://www.taxtmi.com/caselaws?id=306443 The Tribunal held that the Principal Commissioner of Income Tax was unjustified in initiating proceedings under Section 263 as the assessee had opted for settlement under the Direct Tax Vivad Se Vishwas Scheme. The Tribunal quashed the PCIT's order, ruling in favor of the assessee, stating that the Assessing Officer had already examined the cash deposit details during the assessment and made necessary additions. It was emphasized that the DTVSV scheme's immunity covers issues for which declarations were made, making the PCIT's revision proceedings on the same matter impermissible. en-us Thu, 17 Nov 2022 00:00:00 +0530 Mon, 30 Jan 2023 21:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306443 The Tribunal held that the Principal Commissioner of Income Tax was unjustified in initiating proceedings under Section 263 as the assessee had opted for settlement under the Direct Tax Vivad Se Vishwas Scheme. The Tribunal quashed the PCIT's order, ruling in favor of the assessee, stating that the Assessing Officer had already examined the cash deposit details during the assessment and made necessary additions. It was emphasized that the DTVSV scheme's immunity covers issues for which declarations were made, making the PCIT's revision proceedings on the same matter impermissible. Case-Laws Income Tax Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306443