1979 (12) TMI 30 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, allowing exemption under section 5(1)(viii) of the Gift Tax Act for a gift made by the husband to his wife. The Tribunal found that the gift was made in the capacity of the husband, entitling the assessee to the relief. The court upheld the Tribunal's decision, stating that the assessee is entitled to the exemption.