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Capital gain exemption u/s 54

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(Querist)
30 June 2019 Sir/madam,
if an assessee sold residential property and again invest in residential property to claim exemption u/s 54 within stipulated time and payment made from funds other sources, so now whether assessee still eligible to claim exemption u/s 54?? because assessee received the sale proceeds of old property in bank account... but payment made for new property is from another bank account...
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 June 2019 Reinvestment need not flow from the sale proceeds of the old property.
Citation :-- ITO Vs. K. C. Gopalan (2000) 162 ITR (Ker) 566,569.
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Jaswinder singh

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Jaswinder singh (Querist)
30 June 2019 Thank your sir for your valuable feedback........
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