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2012 (10) TMI 355 - AT - Income TaxCondoned the delay in filing of Appeal with CIT – Delay of 458 days – Held that:- Following the decision in case of Ram Nath Sao & Ors Vs. Gobardhan Sao & Ors. (2002 (2) TMI 1280 - SUPREME COURT) that acceptance of explanation furnished should be the rule and refusal an exception more so when no negligence or inaction or want of bonafide can be imputed to the defaulting party. However, by taking a pedantic and hyper-technical view of the matter the explanation furnished should not be rejected when stakes are high and /or arguable points of facts and law are involved in the case, causing enormous loss and irreparable injury to the party against whom the lis terminates either by default or inaction and defeating valuable right of such a party to have the decision on merit. - Delay condoned.
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