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1999 (3) TMI 639 - ITAT MUMBAI
Extract:
....... ₹ 24,55,000 (3) Original hundies issued by M/s. Bhupendra Motors ₹ 2,00,000 Total ₹ 1,62,97,000 22. As clarified elsewhere, the hundi loans have to be assessed under the head "Other sources" and the interest of ₹ 24,55,000 under the head "Business". 23. Subject to the above, the appeal is partly allowed.