https://www.taxtmi.com/caselaws?id=58102 The Tribunal determined that the tanning businesses of the two firms qualified as industrial undertakings under the Wealth Tax Act, 1957. The processing involved in the tanning process was considered sufficient to categorize them as such. Certificates from the Directorate of Industries supported this classification. Despite the Departmental Representative's arguments, the Tribunal held that the tanning process constituted processing of goods, resulting in a distinct end product. The Tribunal directed reassessment of the value of the assessee's interest in the firms' assets for exemption purposes under the Act, remanding the matter for proper valuation. The appeals were allowed for statistical purposes. en-us Wed, 28 Sep 1977 00:00:00 +0530 Fri, 17 Dec 2010 13:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58102 The Tribunal determined that the tanning businesses of the two firms qualified as industrial undertakings under the Wealth Tax Act, 1957. The processing involved in the tanning process was considered sufficient to categorize them as such. Certificates from the Directorate of Industries supported this classification. Despite the Departmental Representative's arguments, the Tribunal held that the tanning process constituted processing of goods, resulting in a distinct end product. The Tribunal directed reassessment of the value of the assessee's interest in the firms' assets for exemption purposes under the Act, remanding the matter for proper valuation. The appeals were allowed for statistical purposes. Case-Laws Wealth-tax Wed, 28 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58102