@line=<INFO>; #will this help ?

Not at all. That construct will read the whole file into an array lines. That's not what you want here. Have a look at this code.

my $file = $ARGV[0];
my $repl = $ARGV[1];

open INFO, "<", $file or die $!;

while (<INFO>)
{
    s/(Absolute_Error_Tolerance=&Quot;)1e-15(&Quot)/$1$repl$2/;
    print;
}

close INFO;
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That can be easily made into a one-liner:

perl -n -e "s/(Absolute_Error_Tolerance=&Quot;)1e-15(&Quot)/$1$ARGV[0]
+$2/;
    print;" filename
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just this doesn't work. You cannot pass additional variables into an -e "code" statement. However, you avoid problem by putting that line into a shell script or batchfile (here windows batchfile, as i have no idea of shell scripts).

@echo off
perl -n -e "s/(Absolute_Error_Tolerance=&Quot;)1e-15(&Quot)/$1%2$2/; p
+rint;" %1
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So you can then call that file using

batchfilename datafile replacement
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Note: The %1 and %2 are no perl hashes but variables from the shell. They get substituted by the command line values before! the script is run.