https://www.taxtmi.com/caselaws?id=59026 The Appellate Tribunal held that the firm, engaged in extracting and processing spoil to separate sand, qualified as an industrial undertaking eligible for exemption under section 5(1)(xxxii) of the Wealth Tax Act. The Tribunal considered legal precedents emphasizing that operations preparing a commodity for the market constitute processing. Consequently, the firm was granted exemption, along with another firm involved in manufacturing bricks and tiles, due to their manufacturing and processing activities. All appeals were allowed in favor of the appellants. en-us Thu, 14 Jul 1983 00:00:00 +0530 Thu, 23 Dec 2010 16:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59026 The Appellate Tribunal held that the firm, engaged in extracting and processing spoil to separate sand, qualified as an industrial undertaking eligible for exemption under section 5(1)(xxxii) of the Wealth Tax Act. The Tribunal considered legal precedents emphasizing that operations preparing a commodity for the market constitute processing. Consequently, the firm was granted exemption, along with another firm involved in manufacturing bricks and tiles, due to their manufacturing and processing activities. All appeals were allowed in favor of the appellants. Case-Laws Wealth-tax Thu, 14 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59026