TMI Blog1991 (9) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment year 1973-74. The sole question referred to this court is as follows : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that Messrs. Chintamani Bros., a firm engaged in printing and sale of cotton sarees is an industrial undertaking within the meaning of section 5(1)(xxxii) read with the Explanation to clause (xxxii) of sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25(2) of the Act on the ground that the Wealth-tax Officer was not justified in accepting the said claim of the assessee and that the aforesaid relief granted to the assessee was erroneous and prejudicial to the interests of the Revenue. He issued a show-cause notice to the assessee which ultimately resulted in an order passed by the Commissioner of Wealth-tax holding that the business of printing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and getting it converted into bed spreads, etc., is one which is involved in the " processing of goods " within the meaning of section 5(1)(xxxii) of the Act and that it is an industrial undertaking, hence entitled to exemption under the Wealth-tax Act. This decision has later on been followed by another Division Bench of this court in the case of CWT v. Dinesh Prakash [1988] 173 ITR 520 (All); [1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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