Levite, you said Jews don't believe in hell; and sheol="hell"=same thing=grave(place of burial).
Agreed, it is not a place of "eternal damnation to torture". The righteous and the wicked both are placed in "sheol"/grave/pit=hell---at death.
There will come a Day of Atonement.
She'ol does not equal hell. It is often translated as "the grave," but properly speaking, in ancient Israelite belief, it was the underworld. Everyone was thought to go there when they died-- good, bad, or mediocre. A little like the Greek Hades, it was just the underworld: it carried no attachments of either punishment or reward.
This is, however, a theology of ancient Israelite belief. Rabbinic Judaism has no underworld, and has always interpreted she'ol metaphorically. It is not even clear whether belief in a literal she'ol survived in the Second Temple era. But no Jew, to my knowledge, has believed in a literal she'ol for at least 2,000 years.
Also, the Day of Atonement comes every year on the tenth of the month of Tishrei. We call it Yom Kippur.