- (1.) The Principal Commissioner of Income Tax Allahabad has preferred these Income Tax Appeals under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Allahabad dated 30.9.2016 whereby the tribunal has set aside the order of the Commissioner passed in exercise of powers under Section 263 of the Act holding that the Commissioner was not justified in exercising the revisional jurisdiction in the matter thus affirming the order of the Assessing Officer.
(2.) We have heard Sri Manu Ghildiyal, learned counsel for the Income Tax Department and Sri Abhinav Mehrotra, learned counsel appearing for the respondent.
(3.) The Income Tax Department has raised several substantial questions of law but on consideration we find that only the following two substantial questions of law arise for our consideration:- i) Whether the ITAT was right in holding that the rental income received from letting out shops in a Mall ought to have been assessed as income from business and not under the head income from house property; and ii) Whether the ITAT was justified in setting aside the order of the commissioner passed under Section 263 of the Act holding that the Commissioner committed jurisdictional error in passing the said order?;