A federal appeals court in New York on Friday revived a lawsuit alleging that President Trump is illegally profiting from his hotels and restaurants in New York and Washington in violation of the Constitution’s anti-corruption, or emoluments, clauses.

In a two-to-one decision, a panel of judges for the United States Court of Appeals for the Second Circuit found that a lower court had wrongly dismissed the lawsuit accusing Mr. Trump of violating the Constitution’s bans on accepting financial benefits from foreign or state governments. The appeals court judge sent the lawsuit back to the lower court, ordering it be allowed to proceed.

The decision comes nearly two years after the lower court judge dismissed the lawsuit. The case is one of three that have been ping-ponging back and forth between district and appeals courts as judges struggle with the novel legal questions raised by Mr. Trump’s decision not to divorce himself from his business empire while in office.

Although Mr. Trump promised never to mix his personal financial interests with official business, he has repeatedly touted his properties since becoming president. He suggested recently that he should host the next summit of the Group of 7 world leaders at his luxury golf resort in southern Florida, describing the property as a “great place.”