1998 (3) TMI 73

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.... This is an application made by the Revenue under section 27(3) of the Wealth-tax Act, 1957, requiring us to direct the Income-tax Appellate Tribunal to refer the following question for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that the assessee is entitled to exemption under section 5(1)(xxxi....

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....Tribunal reached the conclusion that the firms in which the assessee was a partner, being engaged in the business of manufacture of new gold jewellery from old gold ornaments, ire entitled to get exemption under section 5(1)(xxxii) of the Wealth-tax Act. Such finding recorded by the Appellate Tribunal is a clear finding of fact. The submission of learned senior standing counsel before us is tha....