https://www.taxtmi.com/caselaws?id=58970 The Tribunal ruled in favor of the department, holding that the firm engaged in construction activities as contractors and builders of bridges and dams does not qualify as an 'industrial undertaking' under section 5(1) (xxxii) of the Wealth-tax Act. The Tribunal emphasized that the construction of buildings or dams does not constitute engagement in the manufacture or processing of goods as required by the Act. As a result, the Tribunal set aside the lower court's decision to grant exemption and allowed the department's appeals. en-us Wed, 21 Jan 1987 00:00:00 +0530 Thu, 23 Dec 2010 13:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58970 The Tribunal ruled in favor of the department, holding that the firm engaged in construction activities as contractors and builders of bridges and dams does not qualify as an 'industrial undertaking' under section 5(1) (xxxii) of the Wealth-tax Act. The Tribunal emphasized that the construction of buildings or dams does not constitute engagement in the manufacture or processing of goods as required by the Act. As a result, the Tribunal set aside the lower court's decision to grant exemption and allowed the department's appeals. Case-Laws Wealth-tax Wed, 21 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58970