04 March 2009
Assessee sold shares results in long term capital gains, buys 3 flats in the same apartment can he claim exemption under section 54F. He does not own any residential property as on date.
05 March 2009
Its quite confusing, one case law says if there is a common kitchen and common passage then the entire unit can be considered as one residential unit and exemtion can be claimed. Looks like it will depend upon the assessing officer also. Anyway thanks for the reply.
CAclubindia
