diff -r e12c0fa1f65b -r c1b7b2285522 mercurial/bundlerepo.py
--- a/mercurial/bundlerepo.py	Thu Jan 05 17:16:07 2017 +0000
+++ b/mercurial/bundlerepo.py	Tue Jan 10 16:15:21 2017 +0000
@@ -148,7 +148,10 @@
             delta = self._chunk(chain.pop())
             text = mdiff.patches(text, [delta])
 
-        self.checkhash(text, node, rev=rev)
+        text, validatehash = self._processflags(text, self.flags(rev),
+                                                'read', raw=raw)
+        if validatehash:
+            self.checkhash(text, node, rev=rev)
         self._cache = (node, rev, text)
         return text