2010 (7) TMI 69

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....n filed under Section 260A of Income Tax Act, 1961 (for brevity "Act 1961") challenging the order dated 24th April, 2009 passed by the Income Tax Appellate Tribunal (in short "ITAT"), for the assessment year 2006-2007. 2. Ms. Prem Lata Bansal, learned counsel for revenue stated that ITAT erred in law in setting aside the order passed by the Commissioner of Income Tax (Appeal) under Section 263 o....

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....sed by the Ld. CIT and restore that of the AO." 4. In our opinion, Section 263 of the Act, 1961, does not visualize a case of substitution of judgment by the Commissioner for that of the Assessing Officer who passed the order. The Commissioner on perusal of records may be of the opinion that the estimate made by the Assessing Officer is on the lower side, but that would not vest the Commissioner....