https://www.taxtmi.com/caselaws?id=61807 The Tribunal concluded that the firm's activities, involving extensive processing and manufacturing of engines, constituted "processing of goods" under section 5(1)(xxxii) of the Wealth Tax Act. Rejecting the argument that processing must be for sale, the Tribunal held that job work on customer-supplied materials also qualifies for exemption. As a result, the Tribunal allowed the appeal in part for the assessment year 1976-77, granting the assessee's share of interest in the firm exemption under the Act. en-us Tue, 20 Nov 1990 00:00:00 +0530 Sat, 15 Jan 2011 11:31:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61807 The Tribunal concluded that the firm's activities, involving extensive processing and manufacturing of engines, constituted "processing of goods" under section 5(1)(xxxii) of the Wealth Tax Act. Rejecting the argument that processing must be for sale, the Tribunal held that job work on customer-supplied materials also qualifies for exemption. As a result, the Tribunal allowed the appeal in part for the assessment year 1976-77, granting the assessee's share of interest in the firm exemption under the Act. Case-Laws Wealth-tax Tue, 20 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61807