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1997 (12) TMI 97 - MADRAS HIGH COURTExtract: .......amined and we hold, considering the relationship between the banker and the customer and the location of the debt at the time of acceptance of the gifts, the assessee is entitled to the exemption as provided under section 5(1)(ii) of the Act. In fine, we answer the question of law referred to us in the affirmative and against the Revenue. No costs.
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