https://www.taxtmi.com/caselaws?id=21167 The High Court of Allahabad ruled in favor of the assessee firm, M/s. H. Maula Buksh Sons and Co., in a case concerning the interpretation of "manufacturing or processing of goods" under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The court held that despite outsourcing the manufacturing of leather boots to contract laborers, the firm qualified as an industrial undertaking under the Act. The court emphasized that the nature of the activity, not ownership of fixed assets, determined the classification as an industrial undertaking. The decision favored the assessee and rejected the Revenue's arguments, establishing the firm's eligibility under the Act. en-us Mon, 31 Aug 1992 00:00:00 +0530 Fri, 20 Nov 2009 15:14:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21167 The High Court of Allahabad ruled in favor of the assessee firm, M/s. H. Maula Buksh Sons and Co., in a case concerning the interpretation of "manufacturing or processing of goods" under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The court held that despite outsourcing the manufacturing of leather boots to contract laborers, the firm qualified as an industrial undertaking under the Act. The court emphasized that the nature of the activity, not ownership of fixed assets, determined the classification as an industrial undertaking. The decision favored the assessee and rejected the Revenue's arguments, establishing the firm's eligibility under the Act. Case-Laws Wealth-tax Mon, 31 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21167