Tax Exemptions Claimed in Vivad Se Vishwas Scheme cannot be Re-agitated u/s 263 w/out New Facts: ITAT

The ITAT ruled that tax exemptions claimed under the Vivad se Vishwas Scheme cannot be re-agitated under section 263 of the Income Tax Act without presenting new facts. The case dealt with whether exemptions claimed by a taxpayer under the scheme could be revisited by tax authorities. The ITAT clarified that once a matter is settled under the scheme, it cannot be reopened unless there are new facts or material evidence. The ruling strengthens the legal standing of the Vivad se Vishwas Scheme, providing closure for taxpayers who have availed of its benefits.