employed
2574 Points
Posted on 18 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. Thus, investment of sale proceeds of agricultural land by the assessee in purchasing plot and constructing residential house thereon in name of his only adopted son would not qualify for exemption under section 54F - Prakash v. ITO [2008] 173 Taxman 311 (Bom.).
https://www.thehindu.com/biz/2008/12/29/stories/2008122950061300.htm