https://www.taxtmi.com/caselaws?id=25705 The court upheld the Tribunal's decision, ruling that the business of the firm qualifies as an industrial undertaking under section 5(1)(xxxii) of the Wealth-tax Act. The activities of extracting stones, crushing them with machinery, and selling the products were deemed to constitute mining and manufacturing processes, meeting the criteria for exemption. The judgment favored the assessee, granting exemption for the interest in the firm, with no cost order due to the absence of representation. The court instructed 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 12:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25705 The court upheld the Tribunal's decision, ruling that the business of the firm qualifies as an industrial undertaking under section 5(1)(xxxii) of the Wealth-tax Act. The activities of extracting stones, crushing them with machinery, and selling the products were deemed to constitute mining and manufacturing processes, meeting the criteria for exemption. The judgment favored the assessee, granting exemption for the interest in the firm, with no cost order due to the absence of representation. The court instructed the transmission of the judgment to the Assistant Registrar, Income-tax Appellate Tribunal, Patna. Case-Laws Wealth-tax Tue, 12 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25705