https://www.taxtmi.com/caselaws?id=62057 The Tribunal held that the trade in hill produce, involving power-operated machinery for processing pepper, qualified as an industrial undertaking under s. 5(1)(xxxii) of the Wealth-tax Act, 1957. The Tribunal emphasized that the use of machinery powered by electricity for enhancing product quality constituted processing, distinguishing it from mere preparation for the market. Consequently, the appeal was allowed, recognizing all three business activities of the firm (running an Oil Mill, trade in hill produce, and export of sea foods) as industrial undertakings eligible for exemption. en-us Wed, 26 Nov 1975 00:00:00 +0530 Mon, 17 Jan 2011 18:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62057 The Tribunal held that the trade in hill produce, involving power-operated machinery for processing pepper, qualified as an industrial undertaking under s. 5(1)(xxxii) of the Wealth-tax Act, 1957. The Tribunal emphasized that the use of machinery powered by electricity for enhancing product quality constituted processing, distinguishing it from mere preparation for the market. Consequently, the appeal was allowed, recognizing all three business activities of the firm (running an Oil Mill, trade in hill produce, and export of sea foods) as industrial undertakings eligible for exemption. Case-Laws Wealth-tax Wed, 26 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62057