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1997 (1) TMI 42 - HC - Wealth-taxExtract: .......the assessee is a partner, is not an industrial undertaking engaged in the distribution of power. In that view of the matter, the exemption under section 5(1)(xxxii) of the Act cannot be granted, to the assessee. In the result, we answer the question referred to us in the negative and in favour of the Department. There will be no order as to costs.
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