https://www.taxtmi.com/caselaws?id=307382 The Tribunal allowed the appeal against the revision order under Section 263 of the Income Tax Act, 1961, finding that the Principal Commissioner of Income Tax exceeded jurisdiction by initiating proceedings on a matter already settled under the Direct Tax Vivad Se Vishwas Scheme, 2020. The Tribunal emphasized the finality of settlements under the VSVS Act, stating that authorities cannot revisit accepted declarations or initiate revisionary proceedings on resolved matters. Consequently, the revision order was quashed, highlighting the limitations on the powers of authorities in such cases. en-us Thu, 18 Aug 2022 00:00:00 +0530 Thu, 13 Apr 2023 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307382 The Tribunal allowed the appeal against the revision order under Section 263 of the Income Tax Act, 1961, finding that the Principal Commissioner of Income Tax exceeded jurisdiction by initiating proceedings on a matter already settled under the Direct Tax Vivad Se Vishwas Scheme, 2020. The Tribunal emphasized the finality of settlements under the VSVS Act, stating that authorities cannot revisit accepted declarations or initiate revisionary proceedings on resolved matters. Consequently, the revision order was quashed, highlighting the limitations on the powers of authorities in such cases. Case-Laws Income Tax Thu, 18 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307382