Section 40 of Income Tax Act, 1961— The solitary grievance of the assessee is that the ld. CIT(A) erred in not allowing the claim of interest on capital and remuneration to partners from the assessed income.

Held that— We find that partnership deed dated 01.05.2008 at clause 8 contains provision for interest on capital @ 12% per annum and clause 17 provides for remuneration to whole time working partners and method of computation of remuneration is also provided.

Respectfully following the decision of the Hon'ble Jurisdictional High Court of Allahabad [supra] and that of the co-ordinate bench, we direct the Assessing Officer to allow remuneration to the partners and interest on capital as per provisions of law.[M/S MAYASHEEL CONSTRUCTION C/O KAPIL GOEL, ADV VERSUS THE DY. C.I.T CIRCLE - 1 GHAZIABAD][2019] 20 ITCD Online (26) [ITAT DELHI]