1997 (11) TMI 41

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....ncome-tax Appellate Tribunal, Madras, has stated a case and referred the following common question of law for the assessment years 1978-79 and 1979-80 under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for the opinion of this court : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in deleting the addition of R....

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.... and another sum of Rs. 12,750 for the assessment year 1979-80 to the income of the assessee. When the assessee preferred appeals to the Commissioner of Income-tax (Appeals) questioning the additions in view of the specific provisions of section 69D of the Act, the Commissioner of Income-tax (Appeals) upheld the additions. The assessee carried the matter in appeal before Income-tax Appellate Tribu....

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....hundi papers came up for consideration before this court in the case of CIT v. Paranjothi Salt Co. [1995] 211 ITR 141 and this court held that it has to be seen in each case as to what are the contents of the document and unless the contents show that the essential characteristics of the hundi were present, the provisions of section 69D are not attracted. This court also held that the mere circums....