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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2014 capital gain arise from sale of residential house property

it is compulsory to invest same money for purchase of new residential house or assessee can claim exemption using money of housing loan

any case law???
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 February 2014 Borrowed money can be used for reinvestment in house property to claim section 54.

Citation:- CIT v. Dr. P. S. Pasricha, 20 SOT 468 (Mum.)
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