TaxTMI 
TaxTMI 
2017 (7) TMI 815
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....n 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. We have heard Sri Manu Ghildiyal, learned counsel for the Income Tax Department and Sri Abhinav Mehrotra, learned counsel appearing for the respondent. 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 ITA....
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....wed by the order dated 16.1.2002 on the ground that the order passed by the Assessing Officer was erroneous and is also prejudicial to the interest of the revenue, in as much as, the Commissioner was of the opinion that the income derived by the Assessee was apparently income from house property as contemplated under Section 22 of the Act. Accordingly, the assessment order was cancelled and the Assessing Officer was directed to re-compute the taxable income of the assessee under the head Income from house property. Aggrieved by the aforesaid order the assessee preferred appeals before the tribunal which have been allowed by the impugned order. We take up question no. 1 as above first for reconsideration:- The question whether the income ....
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....n the "Atlantis Mall" is income from business for the purposes of assessment of income tax. Now coming to the second question of law as mentioned above we find that the Commissioner of Income Tax ordered for setting aside the assessment order primarily for the reason that the Assessing Officer had only made the assessment of the taxable income of the assessee on the basis of the income as disclosed by it under the head income from business without considering the other aspects of the matter whether it would fall under the head Income from house property. A perusal of the assessment order reveals that though there may not be any consideration on the above aspect of the matter as to whether the income of the assessee would be covered under ....