https://www.taxtmi.com/caselaws?id=21342 Printing and sale of cotton sarees was treated as processing of goods and, on that basis, as an industrial undertaking for wealth-tax purposes. Earlier High Court rulings had already held that converting plain cloth into finished goods and carrying out printing and dyeing operations amount to processing of goods. Applying that principle, the business activity was held to fall within section 5(1)(xxxii) of the Wealth-tax Act, 1957, with the consequence that the assessee's interest in the firm qualified for exemption from wealth-tax. en-us Tue, 10 Sep 1991 00:00:00 +0530 Sat, 21 Nov 2009 16:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21342 Printing and sale of cotton sarees was treated as processing of goods and, on that basis, as an industrial undertaking for wealth-tax purposes. Earlier High Court rulings had already held that converting plain cloth into finished goods and carrying out printing and dyeing operations amount to processing of goods. Applying that principle, the business activity was held to fall within section 5(1)(xxxii) of the Wealth-tax Act, 1957, with the consequence that the assessee's interest in the firm qualified for exemption from wealth-tax. Case-Laws Wealth-tax Tue, 10 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21342