https://www.taxtmi.com/caselaws?id=59005 The ITAT BOMBAY-D allowed the assessee's appeals, affirming eligibility for relief under s. 5(1)(xxxii) of the WT Act. The Tribunal held that assets owned by the firm, not necessarily by the assessee directly, qualified for relief. The decision aligned with previous court rulings, interpreting "industrial undertaking" broadly to include activities like buying and processing goods. The Tribunal emphasized the firm's ownership of assets for relief eligibility, not requiring direct ownership by the assessee. en-us Fri, 26 Oct 1979 00:00:00 +0530 Thu, 23 Dec 2010 15:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59005 The ITAT BOMBAY-D allowed the assessee's appeals, affirming eligibility for relief under s. 5(1)(xxxii) of the WT Act. The Tribunal held that assets owned by the firm, not necessarily by the assessee directly, qualified for relief. The decision aligned with previous court rulings, interpreting "industrial undertaking" broadly to include activities like buying and processing goods. The Tribunal emphasized the firm's ownership of assets for relief eligibility, not requiring direct ownership by the assessee. Case-Laws Wealth-tax Fri, 26 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59005