1. This appeal by the assessee filed under Section 260A of the IT Act, 1961 (for short, the Act) is directed against the order dt. 26th Sept., 2002, passed by the Income-tax Appellate Tribunal (hereinafter, referred to as the Tribunal), whereby the appeals filed by the Revenue against the order of Commissioner of Income-tax(Appeals) [for brevity, the CIT(A)] were allowed and the claim of the assessee rejected.

2. According to the learned counsel for the appellant, the following three substantial questions of law are involved in the appeal and, therefore, the same deserves to be admitted :

(i) Whether the Tribunal on the facts and in the circumstances of the case erred in law in not dismissing the appeals of the Department/Revenue in view of the Boards Circular No. F. No. 279/126/98-ITJ, dt, 27th March, 2000 ?

(ii) Whether, on an application of the correct principles of law and in view of the judicial pronouncements of the Supreme Court and High Court(s), was the Tribunal justified in law in holding that the income of the assessee appellant on account of temporary leasing of asset for commercial exploitation was taxable under the head "Property Income" and not "Business Inco