https://www.taxtmi.com/caselaws?id=19617 The High Court ruled in favor of the assessee on both issues. The Tribunal's findings supported the deletion of the addition of Rs. 30,972 as income under section 69D of the Income-tax Act. The documents executed by the assessee were not considered hundis as they did not meet the essential characteristics required. The Court emphasized that the contents of the documents were crucial, and the mere use of hundi papers did not make them hundis. Consequently, the Court answered both issues in the affirmative, against the Revenue, with no order as to costs. en-us Thu, 20 Jan 1994 00:00:00 +0530 Sat, 07 Nov 2009 13:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19617 The High Court ruled in favor of the assessee on both issues. The Tribunal's findings supported the deletion of the addition of Rs. 30,972 as income under section 69D of the Income-tax Act. The documents executed by the assessee were not considered hundis as they did not meet the essential characteristics required. The Court emphasized that the contents of the documents were crucial, and the mere use of hundi papers did not make them hundis. Consequently, the Court answered both issues in the affirmative, against the Revenue, with no order as to costs. Case-Laws Income Tax Thu, 20 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19617