Cap Gain Exemptions

Dear.,
As per my view it's not available... exemption available only to the Assessee not his wife...

Wait on Our Great experts view.

Dear Raja
I am not sure
but I read somewhere that exemption cannot be denied merely because property is purchased in wife name in case of capital gain
but I don't properly know

thank you. I am also trying to find out as I read some cases which shown that purpose of law for expemptions was to encourage house constructions as well as as in this particular case as the wife is totally dependent and is senior citizen it gives a women empowerment as well. and I also noticed that law has nowehere written that assesse should register or purchase the new home in his own name and due to this There were some cases ehere supreme court allowed the stretching of law for genuine purpose but few cases were there like registration of new home in step son's name and a wife who is earning and a tax payee, such cases the decision went in favour of ITO and assessee was denied of exemption.

If the entire investment is from the consideration received from the house sold then exemption on capital gain can be claimed,
This is adjudicated in the case of CIT Vs. Ravinder Kumar Arora by Honourable Delhi High Court

yes Mr Meet. I was trying to mention this case as well. yes the entire investment is from the consideration received from.the house and even remaining investment of 50k is from the NRE account of the assessee. so everything is fairly clear.