- (1.) Having heard learned Counsel appearing for the parties, we admit the appeal on the following point, which involves substantial question of law:- Whether the finding of the learned Tribunal holding the proceeding under Section 153A of the Income Tax Act, 1961 initiated against the Assessee for the relevant Assessment Year to be invalid, was perverse and without any basis of law ?
(2.) The stay application being GA No.179 of 2017 is disposed of, as we propose to hear the appeal itself. We however dispense with the requirement of filing paper books as we shall hear out the appeal on the basis of the petition which contain the relevant materials.
(3.) Mr. Das, learned counsel appearing for the assessee waives service of notice of appeal. All other formalities are dispensed with.;