https://www.taxtmi.com/caselaws?id=19454 Exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957 required clear findings that the assessee's firm itself carried on the relevant manufacturing or processing activity and qualified as an industrial undertaking. The Rajasthan HC noted that the Tribunal had not recorded specific findings on the full manufacturing chain, the stages performed directly by the firm, or whether work done through labourers formed part of the firm's own activity or that of an outside agency. In the absence of those factual findings, the statutory exemption could not be granted on the material before it, and the matter was sent back to the Tribunal for fresh adjudication. en-us Fri, 26 Aug 1994 00:00:00 +0530 Fri, 06 Nov 2009 12:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19454 Exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957 required clear findings that the assessee's firm itself carried on the relevant manufacturing or processing activity and qualified as an industrial undertaking. The Rajasthan HC noted that the Tribunal had not recorded specific findings on the full manufacturing chain, the stages performed directly by the firm, or whether work done through labourers formed part of the firm's own activity or that of an outside agency. In the absence of those factual findings, the statutory exemption could not be granted on the material before it, and the matter was sent back to the Tribunal for fresh adjudication. Case-Laws Wealth-tax Fri, 26 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19454