https://www.taxtmi.com/caselaws?id=25701 The court upheld the Tribunal's decision, ruling that the business of the firm qualified as an industrial undertaking under the Wealth-tax Act, 1957. The partners were entitled to exemption under section 5(1)(xxxii), as the activities of extracting and crushing stones constituted mining and manufacturing processes. The judgment favored the assessee, and no costs were awarded due to the absence of representation by the Revenue. The court directed the transmission of the judgment to the Assistant Registrar, Income-tax Appellate Tribunal, Patna. en-us Tue, 12 May 1987 00:00:00 +0530 Sat, 30 Jan 2010 12:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25701 The court upheld the Tribunal's decision, ruling that the business of the firm qualified as an industrial undertaking under the Wealth-tax Act, 1957. The partners were entitled to exemption under section 5(1)(xxxii), as the activities of extracting and crushing stones constituted mining and manufacturing processes. The judgment favored the assessee, and no costs were awarded due to the absence of representation by the Revenue. The court directed the transmission of the judgment to the Assistant Registrar, Income-tax Appellate Tribunal, Patna. Case-Laws Income Tax Tue, 12 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25701