Sanjay Karol, J. - (1.) By way of present appeal, so filed under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act), appellant Shri Virbhadra Singh (HUF) (hereinafter referred to as the Assessee), lays challenge to the order dated 8.12.2016 (Annexure A-1), passed by the Income Tax Appellate Tribunal (hereinafter referred to as the Tribunal), affirming the order dated 18.3.2014 (Annexure A-2), passed by the Commissioner of Income Tax (hereinafter referred to as the Commissioner), who set aside the order dated 28.3.2013 (Annexure A-4) (Page-276), passed by the Assessing Officer, in accepting the Revised Return filed by the Assessee.
(2.) Parties agreed for admission of the appeal on the following Substantial Questions of Law, which we are called upon to decide: "i) Whether on the facts and in the circumstances of the case, the Tribunal erred in law in upholding the validity of the revisionary order dated 18.03.2014 passed under section 263 of the Act? ii) Whether on the facts and in the circumstances of the case, the impugned order of the Tribunal dated 8.12.2016 admitting and considering the additional evidences in gross violation of the procedure laid down in ITAT Rules and in violation of principles of natural justice and fair play, is illegal and bad in law?"
(3.) The facts, leading to the filing of the instant appeal are as under.;