https://www.taxtmi.com/caselaws?id=12054 Exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957 was confined to a firm actually engaged in the manufacture or processing of goods. Where the partnership merely got goods prepared through an outside agency, without direct involvement, supervision, control, or its own processing activity, the work was not treated as manufacture or processing by the firm for exemption purposes. On the facts noted, the firm's capital interest in the partnership did not qualify for the exemption, and the assessee-HUF was held not entitled to relief under that provision. en-us Thu, 18 Jul 2002 00:00:00 +0530 Tue, 16 Feb 2010 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12054 Exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957 was confined to a firm actually engaged in the manufacture or processing of goods. Where the partnership merely got goods prepared through an outside agency, without direct involvement, supervision, control, or its own processing activity, the work was not treated as manufacture or processing by the firm for exemption purposes. On the facts noted, the firm's capital interest in the partnership did not qualify for the exemption, and the assessee-HUF was held not entitled to relief under that provision. Case-Laws Wealth-tax Thu, 18 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12054