Yet Another Unknown Indian? Fender

[JTR249]

Just picked this one up online and the ad said front, though turned out to be rear. The fender has a large hole in the back for a brake light and three, small, evenly spaced holes beneath the larger one. Kind of looks like a hybrid between skirted and whatever they called un-skirted fenders.
There are also no braces. The ad described this as 1930-1940 and the infamous Indian/Harley slash. This fender also has four bolt holes on the top where someone mounted a luggage rack, though you can't tell if it was OEM or not due to corrosion.
Anyone know what this one really is?
-JR Indian Fender Front 1930-1940 1.jpg Indian Fender Front 1930-1940 2.jpg Indian Fender Front 1930-1940 3.jpg

[PaulCDF]

To me looks like a 1940s Indian rear fender (based on mounting holes for luggage rack) that someone 'de-skirted' 'customized' Nice.

[JTR249]

Thanks, Paul. Now that you mention it, when you look at the profile photos you can barely see the angles of the cuts.
-JR

[JTR249]

Here's the inside. Is this consistent with a skirted fender? Looks like they cut the nose as well, if that's what happened.
-JR Indian Fender Front 1930-1940 4.jpg