54 Capital Gain Exemption
This query is : Resolved
02 July 2025
if husband sold the residential property and same proceed invested again in residential property in the name of wife then he is eligible to claim deduction under section 54 ?
02 July 2025
CIT v. Kamal Wahal [2013] 30 taxmann.com 34 (Delhi High Court): This is a frequently cited case where the Delhi High Court held that the new residential house need not be purchased exclusively in the name of the assessee. If the investment is made in the name of the wife, who is not a stranger, and the entire investment comes from the sale proceeds, the exemption under Section 54F (similar to 54) is allowable.
CIT v. V. Natarajan [2006] 154 Taxman 399 (Madras High Court): The Madras High Court held that exemption under Section 54 was available even if the residential property was purchased in the name of the assessee's wife out of the sale proceeds of another house property.
CIT v. V. Natarajan [2006] 154 Taxman 399 (Madras High Court): The Madras High Court held that exemption under Section 54 was available even if the residential property was purchased in the name of the assessee's wife out of the sale proceeds of another house property.
02 July 2025
Thank you very much
02 July 2025
You are welcome.
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