1979 (10) TMI 102

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....al of relief under s. 5(1)(xxxii) of the WT Act to the assessee. 2. The assessee is a partner in M/s. Bhatt Madhusudan Chhotalal. The business of the firm was in buying grey cloth and selling it after getting it processed by Swastick textile Mills Ltd. The assessee's case was that the firm in which she was partner was engaged in manufacture and processing of goods as contemplated under s. 5(1)(....

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....d that the manufacturing activity and the processing activity was done by others and the firm in which the assessee was a partner was not involved in any of the activities itself directly or indirectly. He, therefore, rejected the assessee's plea for relief under s. 5(1)(xxxii) of the WT Act. 4. On an appeal before the Tribunal, the assessee has relied on the Supreme Court decision in the case ....

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....ade cloth entitled the assessee to the benefits of s. 5(1)(xxxii). On behalf of the Revenue, reliance is placed on the orders of the authorities below. It is submitted that the assessee should have interest in the assets in respect of which relief is sought under s. 5(1)(xxxii) of the WT Act and the assessee should own the assets. Further it is submitted that the Supreme Court case cited by the as....