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2012 (7) TMI 265 - AT - Income TaxBest judgement assessment passed u/s 144 - sale of property - proceedings initiated u/s 147 against assessee on ground of information obtained from assessment of assessee's brother that assessee is co-owner of property and capital gains accrued to it - non-filing of return by assessee and no response to notice issued u/s 142 - consequent denial of exemption u/s 54F - Held that:- It is found that assessee, a lady, who was not previously assessed to tax clearly establishes that her failure to suitably respond to notices issued by the AO was due to her ignorance of the provisions of the Act. Also, assessee’s claim for deduction u/s 54F was also denied by the AO, by holding that the assessee had violated the conditions mentioned in the proviso to section 54F(1). However, whether or not the proviso to section 54F(1) was applicable in her case has not been examined. In these circumstances, in the interest of justice, Assessing Officer is directed to consider the entire matter de novo - Decided in favor of assessee for statistical purposes.
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