Manufacturing

Meaning and connotation, explained.

Connotation.

Meaning of word "manufacturing" elaborately discussed.

"Manufacture".

Firm purchasing groundnuts, giving them far crushing to an oil mill and on receipt of oil and oil cakes, selling them to buyers

No investment made by firm in oil mill

No employer-employee relationship existed between firm and oil mill

Activity of purchase and sale amounted to mere trading activities

Firm did not engage itself in manufacturing or processing of goods

Assessees who were partners in firm not entitled to exemption in respect of their interest in assets of firm

Indian Wealth Tax Act, 1957, S.5(1)(xxxii).

As a general rule manufacturing is applied to conversion or process of a material or materials into refiner forms of the raw material or the making of an altogether different thing.