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Deduction U/s 54 /54F

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(Querist)
21 January 2010 An Assessee has sold residential house.Due to his severe illness, he purchased a new residential house in the name of his wife.My question is that whether he can claim deduction U/s 54.Whether there is any High Court/ Supreme Court decision on this situation. Please quote the relevant one.
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
21 January 2010 No
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
21 January 2010 no, can'nt claim
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 January 2010 Residential house must be in the name of the assessee only - For qualifying for the exemption under section 54F, it is necessary and obligatory to have the investment made in residential house in the name of the assessee only.
Citation:-
Prakash Vs. ITO [2008] 173 Taxman 311 (Bom).
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CA Rakhi Govil

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CA Rakhi Govil (Querist)
28 January 2010 thanks
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