Assessee earned dividend income on shares and securities held by her as stock in trade and claimed this income as exempt on ground that it was incidental to its trading activity and it had not incurred any expenditure for earning said income .AO  however made disallowance towards expenses attributed to earning of dividend income. CIT (A) partly  confirmed additions made by AO. On appeal, it was  argued that the CIT (A ) had not considered submissions of assessee that it was maintaining separate books of account and expenditure related to exempt income was not claimed in P&L account , further, submission of assessee that earning of dividend income was incidental to business income of assessee had also not been considered. Appellate Tribunal remanded back to CIT (A) to consider  submissions of assessee and to verify from books of account that assessee was maintaining separate accounts . ( AY. 2006 -07)