It is not permissible for the Assessing Officer to place himself in the position of the management of the assessee and take it upon himself to decide how much would be a reasonable expenditure for a particular business purpose

HIGH COURT OF DELHI, CIT Vs. Micromatic Machine Tools P. Ltd., APPEAL NO: ITA 587/2010, DECIDED ON May 19, 2010 JUDGMENT V.K. JAIN, J. (ORAL) 1. This is an appeal impugning the order dated 30.01.2009, passed by the Income Tax Appellate Tribunal, whereby it dismissed the appeal filed by the Revenue, being ITA No.1253/Del/2007, against the order passed by the Commissioner of Income Tax (Appeals), allowing the appeal filed by the assessee, against the assessment order for the Assessment Year 1998-99. 2. The assessee-company is engaged in the business of marketing machine tools fo...