TMI Blog2020 (10) TMI 1308X X X X Extracts X X X X X X X X Extracts X X X X ..... d 08.10.2018, allowed the said miscellaneous petition and recalled that portion of the order passed by it. Thus, the basis for filing these appeals and raising the second substantial question of law, as of now, does not survive because the finding has already been recalled by the Tribunal and the Tribunal will hear the matter afresh. Therefore, we hold that there is no necessity to answer the second substantial question of law. Whether the Tribunal was justified in holding that the only course available to the Revenue is the revision of its order under Section 263 ? - We find that the observation made by the Tribunal regarding exercise of power by the Commissioner under Section 263 of the Act is a power to be advisorial and no substa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ITAT was justified in holding that the rental receipts on account of letting out of property was to be treated as business income then the question of computation of notional ALV does not arise? And ii. Whether, on facts and in law, the ITAT erred in holding that the Revenue had assessed income from letting out unsold shops in Coramandel Plaza as business income and therefore not adjudication the grounds of appeal of the Revenue whereas the Revenue had assessed the said income as house property income and the CIT(A) on appeal reversed it and held as business income ? 4. First, we take up for consideration the second substantial question of law. In fact, there would be no requirement to decide this substantial ques ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bstantial question of law is rejected. 6. So far as the first substantial question of law framed for consideration, it relates to the rental receipts of the assessee with regard to letting out of the property and whether it needs to be treated as business income. This issue also need not be answered in the light of the fact that we have allowed the assessee s appeal in TCA. Nos.767 to 769 of 2019 by a common judgment dated 09.10.2020 i.e. today, set aside the common order of the Tribunal and remanded the matter to the Tribunal for a fresh consideration. Accordingly, the first substantial question of law framed is left open and both the assessee as well as the Revenue can raise all the issues before the Tribunal. 7. For the foreg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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