Suppose an assessee sold residential house in August 2011, Cap.Gain being Rs.30Lacs. The assessee invested the cap gains of Rs. 30lacs in residential house purchased in March, 20 12 .The cost of house being Rs. 90 lacs. The assessee further sold a land in April 2012, LTCG being Rs. 25 Lacs and also invested the Net consideration in the residential house purchased in march.
For AY 2012-13, assessee claimed exemption of LTCG of Rs. 30Lacs u/s 54. Can assesse claim the exemption of LTCG of Rs.25 Lacs so invested u/s 54F?
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