Capital gains on sale of house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2017 Hello,
My uncle sold the house property in 2011 and purchased the residential house property in his wife name.Now my question is can he claim capital gain exemption u/s 54 even he purchase the new house property in his wife name.Actually the sale amount is lesser compared to purchase value of new property.Whether he has to show all the details in his income tax return or not.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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10 February 2017 It's a tricky one but you can take help of Delhi High Court's judgements in the case of CIT Vs Kamal Wahal and CIT Vs Ravinder Kumar Arora.

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