AO should evaluate claim of exemption u/s. 54F made in compliance to notice u/s. 148

Rahul Monal Chokshi Vs National Faceless Assessment Centre (NFAC) (ITAT Ahmedabad)

ITAT Ahmedabad held that claim of exemption under section 54F vide return of income filed in compliance to notice u/s. 148 needs to be evaluated by AO. Accordingly, matter restored back to the file of J.A.O. for making necessary verification for exemption claim.

Facts- The assessee received a sale consideration of Rs.1,40,00,000/- as his share of income from Mairushish Co-operative Housing Society, but the same was not offered for taxation which has escaped assessment within t

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