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1996 (7) TMI 92 - MADRAS HIGH COURTExtract: ....... Madras-10, after deducting the liability on the life insurance policies amounting to Rs. 38,668 instead of allowing the same as deduction from the policy amount received by the accountable person ? In view of the foregoing discussion, we answer the question referred to us in the negative and in favour of the accountable person/applicant. No costs.
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