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2022 (9) TMI 329 - ITAT NAGPURRevision u/s 263 by CIT - Case of the assessee was reopened u/s 148 on the basis of an information of the Sales Tax Department, Govt. of Maharashtra that the assessee is beneficiary of Hawala entries - G.P. addition made on account of alleged Hawala purchase - according to the ld. Pr.CIT, the assessment was finalized without carrying out any enquiries and no efforts were made to verify the purchases and hence, according to the ld. Pr.CIT, the assessment was found to be erroneous and prejudicial to the interests of the Revenue - assessee opted for the Direct Tax Dispute Resolution Scheme, 2016 (DTDRS) and have filed a petition which is pending for finalization - HELD THAT:- As the assessee had not only challenged the addition but also challenged the jurisdiction of the A.O.. Moreover, while considering the decision of Siddhartha Tubes Ltd. [2002 (5) TMI 220 - ITAT INDORE] we are of the view that once the order has been settled under DTDRS Scheme, 2016, not only the issue of G.P. addition is settled but also the challenge of the jurisdiction by the assessee is settled. Pr.CIT who himself has settled the dispute by issuing Form No. 5 in favour of the assessee thus in that eventuality, the same Pr.CIT is not expected to again invoke provisions of Section 263 of the Act in the given facts and circumstances of the case. Thus, we quash the proceedings initiated U/s 263 of the Act. Appeal of the assessee is allowed.
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