https://www.taxtmi.com/caselaws?id=24990 A partner's share in firms engaged in dyeing and printing cloth was held exempt from wealth-tax because those firms constituted industrial undertakings within the Explanation to section 5(1)(xxxii) of the Wealth-tax Act, 1957. The activity of dyeing and printing was treated as processing of cloth, and processing of this nature fell within the expression "industrial undertaking". The facts were materially similar to an earlier decision applying the same view, and no distinguishing feature was shown, so the exemption was available. en-us Tue, 10 Nov 1987 00:00:00 +0530 Sat, 23 Jan 2010 15:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24990 A partner's share in firms engaged in dyeing and printing cloth was held exempt from wealth-tax because those firms constituted industrial undertakings within the Explanation to section 5(1)(xxxii) of the Wealth-tax Act, 1957. The activity of dyeing and printing was treated as processing of cloth, and processing of this nature fell within the expression "industrial undertaking". The facts were materially similar to an earlier decision applying the same view, and no distinguishing feature was shown, so the exemption was available. Case-Laws Wealth-tax Tue, 10 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24990