https://www.taxtmi.com/caselaws?id=71077 Conversion of timber logs into planks or firewood in a saw mill was treated as manufacture, because the process by manual labour or mechanical means produced a new and different substance distinct from the original logs. On that basis, the activity also amounted to processing of articles for the purpose of the exemption under section 5(1)(xxxi) of the Wealth-tax Act. The assessee, engaged in timber dealing and such conversion, was therefore entitled to the exemption. en-us Tue, 03 Aug 1982 00:00:00 +0530 Thu, 21 Apr 2011 12:00:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71077 Conversion of timber logs into planks or firewood in a saw mill was treated as manufacture, because the process by manual labour or mechanical means produced a new and different substance distinct from the original logs. On that basis, the activity also amounted to processing of articles for the purpose of the exemption under section 5(1)(xxxi) of the Wealth-tax Act. The assessee, engaged in timber dealing and such conversion, was therefore entitled to the exemption. Case-Laws Wealth-tax Tue, 03 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71077