Capital gain exemption u/s 54
This query is : Resolved
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...
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...
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.
Citation :-- ITO Vs. K. C. Gopalan (2000) 162 ITR (Ker) 566,569.
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30 June 2019
Thank your sir for your valuable feedback........
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