TMI Blog1992 (10) TMI 56X X X X Extracts X X X X X X X X Extracts X X X X ..... mely: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that -rule 2B(2) of the Wealth-tax Rules was not applicable in the assessee's case and consequently in deleting the addition made by the Wealth-tax Officer ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that Messrs. Maliram Pooranmal is an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent for invoking rule 2B(2) of the Wealth-tax Rules, has not been satisfied. Thus, question No. 1, is answered against the Revenue and in favour of the assessee. Regarding question No. 2, the dispute is as to whether the Tribunal was right in holding that Messrs. Maliram Pooranmal is an industrial undertaking within the meaning of section 5(1)(xxxii) and subsequently in holding that the value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e findings of fact on the basis of which alone the benefit of the statutory provision could be given to the assessee. It was necessary for the Tribunal to record a clear finding about the entire activity or the various steps or stages in the manufacture or processing of these gems beginning from the point where the same was purchased in the local market and ending with the point where it was made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re the Tribunal to decide the matter afresh with advertence to the observations contained herein. Merely calling for an additional statement of case will not solve the difficulty because the entire matter is required to be re-examined and, in the circumstances of the case, the parties have also to be given an opportunity to produce further material if they so desire to enable the Tribunal to recor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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