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2017 (10) TMI 1543 - AT - Income TaxMaintainability of appeal after withdrawal of application filed u/s. 264 - whether assessee has opted to select the route of filing petition before the CIT u/s 264, the assessee has waived its right to file the appeal and the same cannot come back and on this basis? - HELD THAT:- In view of the judgment of of M. Jayabalan Vs. CIT [2012 (12) TMI 697 - MADRAS HIGH COURT] wherein it is held that the appeal filed by the assessee before CIT (A) after withdrawal of the revision petition u/s. 264 is maintainable and it cannot be said that after filing the revision petition u/s. 264, the assessee cannot file the appeal before the CIT (A) even after withdrawal of the said revision petition. On this aspect, we decide the issue in favour of the assessee. Condonation of delay of 331 days in filing appeal before the CIT (A) - HELD THAT:- Assessee was pursuing an alternative remedy available under the law and the delay for that reason should be condoned if it is found that such action of the assessee was bonafide. In the present case, this is not the case of the revenue that the application filed before the CIT for revision was not bonafide action of the assessee and therefore, by respectfully following this judgment of K.S.P. Shanmugavel Nadar [1984 (4) TMI 24 - MADRAS HIGH COURT] we hold that the delay in filing appeal has been explained by the assessee and same has to be condoned.
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