https://www.taxtmi.com/caselaws?id=456696 ITAT Raipur quashed the revision order passed by Principal CIT under section 263 regarding addition of bogus purchases. The assessee's case had been settled under the Direct Tax Vivad Se Vishwas Act with Form 5 certificate issued by appropriate authority. Following the precedent in Pavan Kankur case, the tribunal held that once assessment order under section 143(3) was opted for settlement under DTVSV Act, Principal CIT could not subsequently initiate revisional proceedings under section 263 to disturb the settled matter. Appeal decided in favor of assessee. en-us Thu, 19 Jan 2023 00:00:00 +0530 Fri, 09 Aug 2024 00:18:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456696 ITAT Raipur quashed the revision order passed by Principal CIT under section 263 regarding addition of bogus purchases. The assessee's case had been settled under the Direct Tax Vivad Se Vishwas Act with Form 5 certificate issued by appropriate authority. Following the precedent in Pavan Kankur case, the tribunal held that once assessment order under section 143(3) was opted for settlement under DTVSV Act, Principal CIT could not subsequently initiate revisional proceedings under section 263 to disturb the settled matter. Appeal decided in favor of assessee. Case-Laws Income Tax Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456696