KADARKARAI C Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THESE two writ petitions relate to the assessments under the Wealth-tax Act for the assessment years 1974-75 and 1975-76. The assessee, viz, the petitioner herein, claimed exemption under section 5(1)(xxxi) of the Wealth-tax Act, 1957 (hereinafter called "the Act"). That exemption was denied both by the Assessing Officer and by the first appellate authority and was ultimately confirmed by the respondent herein. Aggrieved by the orders of the authorities below, these writ petitions are filed.

(2.) BRIEF facts are the following : The petitioner is carrying on business in printing. He undertakes job works such as printing of inland letters,labels, note-books, fancy wrappers, wedding cards, etc., with his offset printing machine. In addition to that, he also purchases raw materials like paper and card-board and converts them into inland letters, note-books, labels, etc., and sells the same. The only ground on which the exemption as claimed by the petitioner was denied by the respondent was that the petitioner's turnover regarding the job works was Rs. 4,61,005 whereas the sale proceeds of his own products was only about Rs. 25,290 and that shows that the petitioner was doing only cooly printing, and that, therefore, the business which he was carrying on was not an "industrial undertaking" entitled to exemption.

(3.) SECTION 5(1)(xxxi) of the Act reads as follows :