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Exemption under section 54 of capital gain tax

This query is : Resolved 
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03 April 2015 ASSESSEE BEING MOTHER OF A SON BEING AGED INVEST IN PURCHASING HOUSE IN THE NAME OF HER SON,SINCE THE ASSESSEE IS OVER AGED AND WANTS TO STAY WITH HER SON FOR HER OWN LOOKING AFTER BY SON.SHE TRANSFER MONEY FROM HER ACCOUNT TO SON`S BANK ACCOUNT AND SON PURCHASES NEW FLAT FOR STAYING FOR SELF AND MOTHER , SO THAT HE CAN LOOK AFTER HIS MOTHER.MOTHER TRANSFER MONEY TO HER SON`S ACCOUNT OUT OF SALE PROCEEDS OF LAND WHIC SHE INHERITED UPON HER HUSBAND`S DEATH.NOW MY QUESTION IS THAT WHETHER MOTHER CAN CLAIM BENEFIT OF SECTION 54.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
04 April 2015 It is riskier when mother's name does not appear in the property documents. There are conflicting judgement on the similar issues.
Return should be filed under the guidance of an experienced consultant.
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