9911796707
TMI Blog1988 (2) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... ahabad Bench, Allahabad, has referred the following two questions relating to the assessment years 1973-74 and 1974-75 for our opinion : " 1. Whether, on the facts and in the circumstances of the case, the assessee was entitled to exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957, in respect of his inasmuch as in Prakash Enterprise and Jagat Narain Chand Prakash (sic) ? 2. If the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting done on job basis. On appeal, the Appellate Assistant Commissioner found that Prakash Enterprise was an industrial undertaking within the meaning of the Explanation to clause (xxxi) of section 5(1) of the Act, 1957, and he, thus, allowed the exemption claimed by the assessee. He, however, did not discuss the assessee's case for exemption in regard to the other firm, Jagat Narain Chand Prakash ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hand Prakash, another partner of Jagat Narain Chand Prakash, should have been taken by the Wealth-tax Officer in the case of the assessee also for both the firms. The Appellate Tribunal on the analogy of its decision being given in the case of Chand Prakash, accepted the assessee's claim for exemption. Also, the Appellate Tribunal recorded a finding of fact in regard to Prakash Enterprise as follo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtakings within the meaning of the Explanation to clause (xxxi) of section 5(1). The question for consideration, therefore, is whether the business of printing and dyeing amounts to manufacturing or processing of goods within the meaning of the aforesaid Explanation. Similar question came up for consideration in CWT v. Radhey Mohan Narain [1982] 135 ITR 372 and there a Division Bench of this cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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