Amount borrowed or rapid on hundi (Sect.69D)

                Where any amount is borrowed on a hundi from, or any amount due thereon is rapid to, any person otherwise than through an account payee cheque drawn on a bank, the amount so borrowed or rapid shall be deemed to be the income of the person borrowing or repaying the amount aforesaid for the prefvious year in which the amount was borrowed or rapid, as the case may be.

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