TMI Blog2023 (8) TMI 688X X X X Extracts X X X X X X X X Extracts X X X X ..... e proceeded upto this Court, in the interregnum acting on the order of the CIT (Appeals) who had remanded the matter back to the file of the AO a fresh order has been passed by the AO holding that the entries made by the assessee were only journal entries; therefore it did not call for imposition of any penalty. The aforesaid order passed by the AO on remand has not been assailed by the Revenue an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. Wasim Qadri, Sr. Adv. Mr. V C Bharathi, Adv. Mr. Rupesh Kumar, Adv. Mr. H R Rao, Adv. Mr. Prashant Singh II, Adv. For the Respondent : Mr. Arvind P. Datar, Sr. Adv. Mr. ADN Rao, Sr. Adv. Mr. Venkata Raghuvamsy D., AOR Mr. Rahul Mishra, Adv. ORDER Heard learned counsel for the parties. Issue involved in these civil appeals being identical, the appeals have been heard togeth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... being granted, civil appeal has been registered. In the hearing today, learned senior counsel for the respondent has raised a preliminary objection that the appeals have been rendered infructuous in view of the subsequent events. He submits that the issue relates to imposition of penalty under Section 271D of the Income Tax Act, 1961 (briefly, the Act herein after). While the matters have proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a live issue and is required to be adjudicated upon. After hearing learned counsel for the parties and on due consideration of the facts of the case, we are of the view that the issue raised in these appeals have been rendered infructuous because of the subsequent turn of events. As a matter of fact, the same has become academic. Therefore, keeping the question of law open, we deem it appropria ..... X X X X Extracts X X X X X X X X Extracts X X X X
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