Allowing the appeal of the revenue the Court held that ;interest earned on investment of surplus money is not part of business income for computing the remuneration to partners .Disallowance was held to be justified .
CIT v. Allen Career Institute. (2018) 403 ITR 375 / 161 DTR 321 (Raj) (HC)
S. 40(b)(v) : Amounts not deductible – Partner – Remuneration – Interest earned on investment of surplus money is not part of business income for computing the remuneration to partners – Disallowance was held to be justified .[ S.56 ]