https://www.taxtmi.com/caselaws?id=26487 The court determined that a cold storage facility qualifies as an industrial undertaking under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The court held that storing potatoes in a cold storage facility constitutes processing of goods, aligning with the definition of an industrial undertaking. Citing precedents, the court emphasized that preservation by refrigeration is a recognized method of processing goods. The decision favored the assessee, concluding that the cold storage facility is entitled to statutory exemption under the Act. The reference was decided in favor of the assessee, with costs payable to the assessee. en-us Fri, 07 Mar 1986 00:00:00 +0530 Fri, 05 Feb 2010 13:23:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26487 The court determined that a cold storage facility qualifies as an industrial undertaking under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The court held that storing potatoes in a cold storage facility constitutes processing of goods, aligning with the definition of an industrial undertaking. Citing precedents, the court emphasized that preservation by refrigeration is a recognized method of processing goods. The decision favored the assessee, concluding that the cold storage facility is entitled to statutory exemption under the Act. The reference was decided in favor of the assessee, with costs payable to the assessee. Case-Laws Wealth-tax Fri, 07 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26487