Capital gains on house prperty

Purchase of New House shall be with in one year or if it is construction the time limit is  3 years

As far as the assessee’s investment is concerned, the Tribunal in one of the major cases upheld that the assessee is eligible for exemption under Section 54F of the Act even though the investment was said to be made in the joint name of assessee and her husband. So the position of Capital gains u/s 54 will be exempt under section 54 as Capital gain is Investing in another Residential Property.