1980 (12) TMI 42

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....P. SINGH C.J.-This is a reference made by the Wealth-tax Appellate Tribunal referring for our answer the following question of law : " Whether, on the facts and in the circumstances of the case, the value of the combine harvester machine, belonging to the assessee, was exempt under the provisions of section 5(1)(ix) of the Wealth-tax Act from being included in the total wealth of the assessee f....

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....ools, implements and equipment do not include any plant or machinery used in any tea or other plantation in connection with the processing of any agricultural produce or in the manufacture of any article from such produce." The argument of the learned counsel for the assessee is that it is not necessary that the tools, implements and equipment should have been used by the assessee himself for t....

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....g of agricultural produce on land but the use so made was not by the assessee and, therefore, the assessee was not entitled to any exemption. What is material to be seen is the use of the machine made by the assessee and not by the person to whom it is given on hire. The object behind the grant of exemption under cl. (ix) appears to us to be the encouragement of agriculture and to grant exemption ....