Shaunak Deshpande (Business) (44 Points)
18 April 2011Hello,
This is related to capital gain :
1. Date of booking of house property A : 19-Oct-2010
2. Date of sale of house property B : 17-Aug-2011
3. Date of possession of house property A : 15-Mar-2012
Can the assessee take the benefit of section 54(1) claiming that he has purchased house property A within a period of one year prior to the date of sale of house property B ?
Shaunak Deshpande
(Business)
(44 Points)
Replied 19 April 2011
Thank you Saiyum.
Now let me slightly modify the date of transaction 1.
The new dates are as follows :
1. Date of booking of house property A : 16-Aug-2010
2. Date of sale of house property B : 17-Aug-2011
3. Date of possession of house property A : 15-Mar-2012
Can he now take the benefit of section 54(1) claiming that he has constructed house property A within a period of 3 years from the date of sale of house property B ?
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