Hi All,
I am haing a query,.
The assessee has sold a property and also invested in the property to be developed by a big oompany.. The assessee has invested almost double the time of consideration in the purchase agreement.
The property developer is a big company developing a very big project comprising of many flats.
The builder has not finished construction yet. And the 3 years time limit is expired for investing in new property..
Wil the investment in the above property be allowed for exemption under sec 54...
CAclubindia
