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<h1>High Court upholds Tribunal's decision on gift tax exemption for husband to wife gift under section 5(1)(viii)</h1> <h3>Commissioner Of Gift-Tax, Tamil Nadu-III Versus KB. Manickam Gupta</h3> The High Court of Madras upheld the Tribunal's decision, granting exemption under section 5(1)(viii) of the Gift Tax Act for a gift from husband to wife, ... Exemptions, Gift Tax 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.