https://www.taxtmi.com/caselaws?id=17782 The court upheld the validity of section 69D of the Income-tax Act, 1961, stating it did not contravene constitutional provisions. Emphasizing transparency in financial dealings to prevent black money circulation, the court dismissed the petition challenging the exclusion of loans taken on hundi from total income. The judgment highlighted legislative intent and alignment with constitutional principles, rejecting the petitioners' challenge to section 69D without awarding costs. en-us Wed, 11 Sep 1996 00:00:00 +0530 Thu, 24 Sep 2009 17:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17782 The court upheld the validity of section 69D of the Income-tax Act, 1961, stating it did not contravene constitutional provisions. Emphasizing transparency in financial dealings to prevent black money circulation, the court dismissed the petition challenging the exclusion of loans taken on hundi from total income. The judgment highlighted legislative intent and alignment with constitutional principles, rejecting the petitioners' challenge to section 69D without awarding costs. Case-Laws Income Tax Wed, 11 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17782