capital gain exemption u/s 54

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Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2010 is there any restriction u/s 54 of income tax regarding number of residential house property to be acquired for claiming exemption.pls guide with reference with a decided case.
thanks in advace

CA Dhiraj Ramchandani

CA Dhiraj Ramchandani (Expert)
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08 December 2010 No restrictions u/s 54.., restriction lies u/s 54F

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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25 December 2010 Case laws -allowing Investment of Capital Gains in more than one Resi. house U/s 54

1. D. Anand Basappa V ITO[2004] 91 ITD 53(Bang.)
2. CIT V D.Ananda Basappa [2009] 180 Taxman (Kar.),
3. Premprakash Bhutani V. CIT[2007]110 TTJ(Delhi)

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