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exemption of sec.54 of capital gain

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(Querist)
31 January 2011 Sir,
I want to know that can an assessee claim for exemption under section 54 of capital gain whenever he has purchased two house in the same year of capital gain derived.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 February 2011 Pl see the Karnataka High Court decision in
http://164.100.80.145:8080/dspace/bitstream/123456789/441273/2/ITA783-08-27-08-2010.pdf
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
01 February 2011 Yes allowed u/s 54 in case , Where amount is invested for purchase of more than one house.
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