20 June 2009
Wether an assesse already having an House Property can claim exemption in respect of LTCG by investing again in the same house property or by purchasing one more residential house.
20 June 2009
Investing the LTCG again in same house property would not mean constructing a residential house as contemplated u/s 54F.Accordingly claim will be disallowed.
Citation:- V. Pradeep Kumar 153 Taxmann 138 (Mad).