https://www.taxtmi.com/caselaws?id=25867 Exemption under section 5(1)(xxxii) of the Wealth-tax Act was available because the partner's firm qualified as an industrial undertaking within the Explanation to section 5(1)(xxxi). The firm was found to be engaged in manufacturing ice and processing potatoes kept in cold storage. The expression "processing of goods" was treated as distinct from manufacture and broad enough to include adaptation of goods for a particular purpose. On that construction, the firm satisfied the statutory definition, and the exemption was available to the assessee. en-us Wed, 25 Feb 1987 00:00:00 +0530 Mon, 01 Feb 2010 13:38:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25867 Exemption under section 5(1)(xxxii) of the Wealth-tax Act was available because the partner's firm qualified as an industrial undertaking within the Explanation to section 5(1)(xxxi). The firm was found to be engaged in manufacturing ice and processing potatoes kept in cold storage. The expression "processing of goods" was treated as distinct from manufacture and broad enough to include adaptation of goods for a particular purpose. On that construction, the firm satisfied the statutory definition, and the exemption was available to the assessee. Case-Laws Wealth-tax Wed, 25 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25867