Dismissing the appeal the Court held that the assessee who was an individual was not carrying on any business. Therefore, the remuneration and interest received by the assessee from the firm could not be termed turnover of the assessee. The assessee had not done any sales nor rendered any services but had been receiving remuneration and interest from the firms which amount had already been debited in the profit and loss account of the firms. Therefore, the remuneration and interest could not be treated as gross receipts. The assessee was not entitled to the benefit of section 44AD. (AY. 2012-13)