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1981 (9) TMI 36 - MADRAS HIGH COURTExtract: .......bove category. Whether it is intended for personal use or not, it would stand out of the exception and would come within the main category of movable property . The sale of jewellery would thus be sale of capital assets and the gain would be capital gain. The question is accordingly answered against the assessee. There will be no order as to costs.
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