The Tribunal held that, while 28(v) taxes the interest & salary received by a partnership firm as business income to the extent the same is allowable as deduction u/s. 40(b) to the firm, this ‘per se’ would not translate such salary & interest to ‘gross receipts’/ ‘turnover’ (for the purpose of section 44AD) to the business of being partners in firm. In other words, it cannot be construed as gross receipts or turnover of business independently carried on by a partner. Dismissing the appeal of the assessee, the Tribunal upheld the order of the Ld. AO disapproving of application of section 44AD of the Act to the salary /interest income of the assessee. (AY. 2012-13)