Capital gain exemption u/s 54

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2012 Sir
An assessee sold a residential property and invested in another property within the time limit allowed to claim exemption in the joint name with spouse.
Whether exemption will be available to him u/s Section 54 because?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 March 2012 This is a vexed issue because divergent views are taken by different courts based on the facts and circumstances of each case. The matter may, therefore, lead to litigation.

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