19 June 2020
ASSESSEE HAD 2 RESIDENTIAL HOUSE, HOUSE-1 IS USED FOR SELF OCCUPIED AND HOUSE-2 IS USED FOR LET OUT, NOW ASSESSEE WANT TO SOLD HOUSE-2 AND REINVEST SALES PROCEEDS IN NEW HOUSE-3, MY QUESTION IS WHETHER BENEFIT OF SECTION 54 IS ALLOWED IF ASSESSEE ALREADY OWNED ONE HOUSE. PLEASE GUIDE US. THANKS IN ADVANCE FOR SPARING YOUR VALUABLE TIME
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