Mr.A sold his property other than House property and recieved capital gain on it say capital gain is Rs.100
Later he built a new house by taking housing loan say Rs.500. The worth of the new house is exactly Rs.500
He did not mention anything about the capital gain amount. (Either it may be spent or unspent).
Now the question is, can the assesse claim the exemption u/s 54F on the capital gain he recieved??
Please give me the correct answer with relavent case laws.
CAclubindia
