Capital Gain Exemption (Urgent)

RICKY (ACA AICWA CS (Executive Program))   (123 Points)

18 December 2009  

Hi.....

I got some amount of capital gain in F.Y. 2008-09, So i invested the same in a separate bank account for the purpose of capital gain exemption to construct a new house u/s 54F of income Tax Act.  The same was utilised for A.Y. 2009-10.

Now again i got some capital gain and want to invest in the already opened account with bank to utilise for the purpose of construction of the same house property.

Can i invest in the same account? If yes on which section it explained or in which case law it says?

Please respond to the above query with suitable basis.........