1994 (10) TMI 8

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..... 1961, at the instance of the Revenue, the Income-tax Appellate Tribunal had referred the following question for our opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in deleting the hundi loans of Rs. 1,15,000 and the interest thereon of Rs. 15,000 which was disallowed by the Income tax Officer under section 69D of the Income-tax Act, 1961 ?" .....

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..... tion made by the Income-tax Officer. Aggrieved against the order, the Department filed an appeal before the Income-tax Appellate Tribunal. The Tribunal following its earlier order in the case of Second, ITO v. Grahalakshmi and Co. [1984] 2 ITD 420 (Mad), held that the provisions of section 69D have no application to these loans and, accordingly, deleted the additions and confirmed the order pass .....

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