https://www.taxtmi.com/caselaws?id=69836 The Tribunal held that the Hindu Undivided Family (HUF) assessee was eligible for exemption under section 5(1)(xxxii) of the Wealth Tax Act, 1957, despite not owning looms and engaging in manufacturing on a contract basis. The Tribunal determined that the activities carried out by the assessee constituted processing of goods, supporting their eligibility for exemption. Consequently, the Tribunal set aside the orders of the authorities and directed the Wealth Tax Officer to allow the exemption, ruling in favor of the assessee in the appeal brought by the Revenue. en-us Fri, 30 Sep 1983 00:00:00 +0530 Tue, 12 Apr 2011 12:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69836 The Tribunal held that the Hindu Undivided Family (HUF) assessee was eligible for exemption under section 5(1)(xxxii) of the Wealth Tax Act, 1957, despite not owning looms and engaging in manufacturing on a contract basis. The Tribunal determined that the activities carried out by the assessee constituted processing of goods, supporting their eligibility for exemption. Consequently, the Tribunal set aside the orders of the authorities and directed the Wealth Tax Officer to allow the exemption, ruling in favor of the assessee in the appeal brought by the Revenue. Case-Laws Income Tax Fri, 30 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69836