1983 (9) TMI 152

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....ndividual and he was having capital invested in an industrial undertaking in the shape of publishing business. The WTO did not accept that there was any manufacturing business and even if there was a manufacturing business, the closing stock of the books could not be considered as capital employed in the manufacturing activity. He therefore, rejected the claim of the assessee. The assessee's appea....

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....but the printer acts as a mere contractor and the publisher carries on business of manufacturing and processing of goods. This decision was accepted by the Board vide Circular No. 347 dt 7th July, 1982. Though this was for treating a company as an industrial undertaking under the IT Act. The position would be the same under the WT Act. Similar view was taken by the Spl. Bench in WTA No. 340-341 of....