https://www.taxtmi.com/caselaws?id=66614 The appeals before ITAT Hyderabad-B related to the denial of exemption under section 5(1)(ix) for the value of a lathe machine used for agricultural maintenance. The Tribunal held that while tools directly used in agricultural production may qualify for exemption, collateral use for repair purposes may not suffice. As the lathe machine was only used for occasional repairs and did not directly energize agricultural tools daily, it was deemed ineligible for exemption. Consequently, the appeals were dismissed, upholding the denial of exemption for the lathe machine's value. en-us Tue, 30 Dec 1980 00:00:00 +0530 Sat, 05 Mar 2011 11:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66614 The appeals before ITAT Hyderabad-B related to the denial of exemption under section 5(1)(ix) for the value of a lathe machine used for agricultural maintenance. The Tribunal held that while tools directly used in agricultural production may qualify for exemption, collateral use for repair purposes may not suffice. As the lathe machine was only used for occasional repairs and did not directly energize agricultural tools daily, it was deemed ineligible for exemption. Consequently, the appeals were dismissed, upholding the denial of exemption for the lathe machine's value. Case-Laws Wealth-tax Tue, 30 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66614