https://www.taxtmi.com/caselaws?id=17341 The High Court ruled against the assessee, denying tax exemption under section 5(1)(xxxii) of the Wealth-tax Act. The Court held that the firm, engaged in supplying gas cylinders, did not qualify as an industrial undertaking distributing power. Gas was deemed a fuel and not power directly, requiring oxidation for energy generation. The Court concluded that distributing gas cylinders did not constitute distribution of power, rejecting the assessee's claim for tax exemption. en-us Mon, 27 Jan 1997 00:00:00 +0530 Mon, 21 Sep 2009 16:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17341 The High Court ruled against the assessee, denying tax exemption under section 5(1)(xxxii) of the Wealth-tax Act. The Court held that the firm, engaged in supplying gas cylinders, did not qualify as an industrial undertaking distributing power. Gas was deemed a fuel and not power directly, requiring oxidation for energy generation. The Court concluded that distributing gas cylinders did not constitute distribution of power, rejecting the assessee's claim for tax exemption. Case-Laws Wealth-tax Mon, 27 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17341