Capital Gain Tax Exemption U/S.54 F

Dear Friends,

Please clarify whether the same money from the sale of land has to be used for making investments in house property to avail exemption u/s 54F.  In this case, he paid all money for the purchase of the house property from his own savings.  Later, he sold a commercial property with a capital gain of Rs.32 lakh.  Can he avail exemption from capital gain tax?

Regards,

Jerry