https://www.taxtmi.com/caselaws?id=345703 The High Court determined that the income from letting out shops in a Mall should be classified as income from business rather than income from house property. The court upheld the Assessing Officer's decision overruling the Commissioner's order under Section 263 of the Income Tax Act. The High Court emphasized that the Commissioner's revisional powers are limited to correcting orders that are both erroneous and prejudicial to revenue. As there were two plausible views regarding the income classification, the Commissioner lacked jurisdiction to interfere. The appeal was dismissed, affirming the tribunal's decision in favor of the assessee. en-us Thu, 13 Jul 2017 00:00:00 +0530 Thu, 25 Jan 2018 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345703 The High Court determined that the income from letting out shops in a Mall should be classified as income from business rather than income from house property. The court upheld the Assessing Officer's decision overruling the Commissioner's order under Section 263 of the Income Tax Act. The High Court emphasized that the Commissioner's revisional powers are limited to correcting orders that are both erroneous and prejudicial to revenue. As there were two plausible views regarding the income classification, the Commissioner lacked jurisdiction to interfere. The appeal was dismissed, affirming the tribunal's decision in favor of the assessee. Case-Laws Income Tax Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345703