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Sec. 263 of Income Tax Act, 1961— Revision— The entire exercise of the fact finding in the form of estimation of income under the powers conferred upon the Assessing Authorities to make best judgment assessments, where the books of accounts are validly rejected, does not seem to have been adopted by the authorities below and such an approach on the part of the revenue authorities cannot be countenanced, therefore, we are inclined to set aside all the three orders passed and order passed under Section 263 and remit the matter back to the Assessing Authority to pass fresh assessments in accordance with law giving reasons for particular findings arrived at by the assessing authority. - CIT V/s S. ALBERT & CO. P. LTD. -  427 ITR 145 (MAD)