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Capital gain

This query is : Resolved 
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(Querist)
02 August 2013 mr a own purchased one plot 1985..

and in 2010 he construct a house on it

in 2011 in sold his house..

now can construction cost be treated as cost of improvement??

can mr a claim exemption u/s 54?(sale long term residential house)
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 August 2013 In my view he can do so but preference must be given to Section 54F.
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