https://www.taxtmi.com/caselaws?id=69364 The Tribunal determined that the borrowals made by the assessee in the form of Hundies were actually promissory notes and not subject to assessment under section 69D of the Income-tax Act, 1961. The Tribunal emphasized the distinction between Hundies and promissory notes, highlighting that the documents' character should be determined from the document itself, not just the label. The request for a reference of a legal question arising from the Tribunal's order was rejected as the case was based on factual findings rather than legal issues, leading to the dismissal of the application. en-us Thu, 29 Sep 1983 00:00:00 +0530 Wed, 06 Apr 2011 13:29:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69364 The Tribunal determined that the borrowals made by the assessee in the form of Hundies were actually promissory notes and not subject to assessment under section 69D of the Income-tax Act, 1961. The Tribunal emphasized the distinction between Hundies and promissory notes, highlighting that the documents' character should be determined from the document itself, not just the label. The request for a reference of a legal question arising from the Tribunal's order was rejected as the case was based on factual findings rather than legal issues, leading to the dismissal of the application. Case-Laws Income Tax Thu, 29 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69364