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1996 (3) TMI 112 - RAJASTHAN HIGH COURTExtract: .......e Tribunal was justified in holding that precious stones declared under the Voluntary Disclosure Scheme, 1975, were not capital assets and no capital gain arose to the assessee in view of the exception provided by section 2(14)(i) of the Income-tax Act, 1961. Consequently, the reference is answered in favour of the assessee and against the Revenue.
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