06 January 2011
A (owner) owns a Land and Building (Res. House)... He sold the Building and Part of Land to B (Retaining some piece of land - sale deed)...He constructed I floor on that Building before 3years from the date of sale... He invested the amount in CG scheme... He claimed exemption u/s 54.... Can he claim or not???
Sec 54 - Transfer of Res. house and Investment in Purchase or construction of Res. house....
CAclubindia
