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2016 (11) TMI 959 - AT - Income TaxTreatment of gains arising out of sale of shares - whether short term capital gains or business profit - Held that:- No infirmity in the order of CIT(A) for treating gain arising out of sale of shares held for more than 12 months as long term capital gains. This issue is also covered by the order of Tribunal dated 21.02.2014 in assessee’s own case. Addition u/s 14A - Held that:- We have carefully gone through the orders of the authorities below and found that CIT(A) has recorded a clear finding to the effect that AO has made disallowance without giving any finding as to whether there was any expenditure claimed as deduction in relation to exempt income. The findings so recorded by CIT(A) has not been controverted, accordingly we do not find any reason to interfere in the order of the CIT(A). Treatment to rental income - Held that:- Rental income so received by assessee was in respect of fixtures and fittings which was either part of residential unit or attached to the house property. The CIT(A) observed that these fixtures and fittings cannot be let out independently without letting out the flat in question to which these are attached. Under these circumstances, we do not find any infirmity in the order of CIT(A) for treating the rental income in respect of these amenities as income from house property.
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