https://www.taxtmi.com/caselaws?id=58166 The Tribunal dismissed the appeal, ruling that the firm did not qualify as an "industrial undertaking" under the Wealth Tax Act. The assessee's interest in the firm's assets was not exempted, as the distribution of kerosene was not considered a form of power as per the Act. The Tribunal concluded that kerosene, being a fuel, did not directly represent energy itself but released stored chemical energy when combusted, thus not meeting the criteria for exemption. en-us Fri, 13 Dec 1985 00:00:00 +0530 Fri, 17 Dec 2010 16:40:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58166 The Tribunal dismissed the appeal, ruling that the firm did not qualify as an "industrial undertaking" under the Wealth Tax Act. The assessee's interest in the firm's assets was not exempted, as the distribution of kerosene was not considered a form of power as per the Act. The Tribunal concluded that kerosene, being a fuel, did not directly represent energy itself but released stored chemical energy when combusted, thus not meeting the criteria for exemption. Case-Laws Wealth-tax Fri, 13 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58166