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capital gain exemption

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(Querist)
29 May 2011 one of our clients had sold a peice of land for rs.15 lakhs on 01.05.2011 he had also bought a peice of land on 01.04.2011, now he had constructed a boundary wall on that peice of land and a small room from the sale proceeds of the above sale, my question is will he be able to get the benefit of sec. 54f or any other section???
pls advice!!!
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
29 May 2011 EXEMPTION UNDER SECTION 54F ALLOWABLE ONLY IF U SELL ANY CAPITAL ASSET OTHER THAN HOUSE AND PURCHASE/CONSTRUCT A RESIDENTIAL HOUSE IN THIS CASE U HAVE NOT FULFILLED THE CONDITION HENCE 54F EXEMPTION NOT ALLOWABLE
U CAN CLAIM EXEMPTION UNDER SECTION 54EC IF U INVEST IN SPECIFIED BONDS
CA MANOJ GUPTA
JODHPUR
09828510543
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