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Capital gain on sale of residential plot

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(Querist)
23 July 2014 My client has purchased a residential plot on 23.12.2010 at Rs. 700000/- and sold the half portion on 23.12.2013 at Rs. 800000/- and then purchased another residential plot on 13.01.2014 for Rs. 500000/-.

Pls guide whether exemption u/s 54F will get or not?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 July 2014 No, only investment in house property is eligible for exemption u/s 54F with certain conditions.
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