https://www.taxtmi.com/caselaws?id=59854 The Tribunal allowed the appeal in favor of the assessee, granting exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The firm's activities were deemed to qualify as processing of goods, meeting the criteria for exemption. The Tribunal considered a broad interpretation of 'processing of goods,' citing relevant legal precedents and a Board's Circular that indirectly supported the assessee's position. Additionally, the relief granted to the assessee was limited by the ceiling specified under section 5(1A), ensuring compliance with statutory limitations. en-us Wed, 10 Oct 1984 00:00:00 +0530 Sat, 01 Jan 2011 14:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59854 The Tribunal allowed the appeal in favor of the assessee, granting exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The firm's activities were deemed to qualify as processing of goods, meeting the criteria for exemption. The Tribunal considered a broad interpretation of 'processing of goods,' citing relevant legal precedents and a Board's Circular that indirectly supported the assessee's position. Additionally, the relief granted to the assessee was limited by the ceiling specified under section 5(1A), ensuring compliance with statutory limitations. Case-Laws Income Tax Wed, 10 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59854