COMMISSIONER OF WEALTH TAX Vs. PREMLATABAI

JUDGEMENT

(1.) THIS order shall also dispose of Misc. Civil Case No. 101/80 (CWT v. Smt. Sajjanbai), as the facts stated and questions referred in both the cases are identical. Oar answer to the question referred to us in Misc. Civil Case No. 71/80 will, therefore, apply to the question referred to us in Misc. Civil Case No. 101/80 also.

(2.) THE assessee is a partner in a partnership firm, M/s. Mehta & Company, Petlawad. For the assessment year 1977-78, the assessee claimed exemption under Section 5(1)(xxxi) of the W.T. Act, 1957, in respect of her capital invested in the firm, M/s. Mehta & Company, Petlawad. According to the assessee the above firm was an "industrial undertaking" and, therefore, the capital invested therein by the assessee was exempted.

(3.) CONTENTION on behalf of the revenue is that the firm, M/s. Mehta & Company in which the assessee is a partner does not carry out the job of processing of cotton itself but gets it done through outside parties. Thus, according to the learned standing counsel the assessee could not get benefit of Section 5.