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2019 (4) TMI 402 - ITAT MUMBAIRevision u/s 263 - difference of opinion - allegation that assessee has paid higher prices for the goods and services to its sister concern over the FMV and h disallowable u/s 40A(2)(b) - HELD THAT:- The aspect of payment of conversion charges and job charges by the assessee to various parties including the related parties as specified u/s 40A(2)(a) together with the respective rate per MT paid to each of those parties thereon were thoroughly examined by the AO in the course of assessment proceedings itself. AO, after examination of those factual details submitted by the assessee with corresponding evidences thereon, had arrived at a conscious conclusion that no disallowance u/s 40A(2)(a) of the Act was warranted in the facts and circumstances of the case while completing the assessment. We find that the CIT had only tried to substitute his knowledge in technical aspect of the industry thereby trying to substitute his opinion on the impugned issue as against the opinion already framed by the AO. This, in our considered opinion, is not permitted under the revisionary proceedings u/s 263. See GABRIEL INDIA LIMITED [1993 (4) TMI 55 - BOMBAY HIGH COURT] - Decided in favour of assessee.
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