25 December 2010
Can assessee claim exemption under section 54 in respect of purchase of TWO resedential house from capital gain arising from sale of ONE resedential house????
25 December 2010
The assessee can claim deduction u/s 54 in respect of one house, out of the two at his / her choice, provided he / she satisfies the conditions of the said section. Citation :- K.C.Kaushik Vs. ITO (1990) 185 ITR (Bom).
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