1991 (1) TMI 65 - HC - Wealth-tax

Summary

The High Court of Allahabad ruled in favor of the assessee, stating that the preparation of biris from tendu leaves and tobacco constitutes 'manufacturing or processing of goods' under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The court also held that this activity qualifies as an industrial undertaking. The judgment is based on previous decisions and no costs were awarded.