https://www.taxtmi.com/caselaws?id=16466 The High Court held that the assessee's business of preparing sweetmeats and biscuits does not qualify as an "industrial undertaking" under the Wealth-tax Act, 1957. The court followed the precedent set by a previous case and ruled that the activity is a trading activity, not entitling the assessee to the exemption under section 5(1)(xxxii) of the Act. The issue of whether sweetmeats and biscuits retain the original properties of flours, water, or sugar was not addressed due to the primary ruling. The case was disposed of with no costs. en-us Wed, 10 Dec 1997 00:00:00 +0530 Tue, 08 Sep 2009 10:43:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16466 The High Court held that the assessee's business of preparing sweetmeats and biscuits does not qualify as an "industrial undertaking" under the Wealth-tax Act, 1957. The court followed the precedent set by a previous case and ruled that the activity is a trading activity, not entitling the assessee to the exemption under section 5(1)(xxxii) of the Act. The issue of whether sweetmeats and biscuits retain the original properties of flours, water, or sugar was not addressed due to the primary ruling. The case was disposed of with no costs. Case-Laws Wealth-tax Wed, 10 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16466