IS LONG TERM CAPITAL GAIN AVOIDABLE?

Yes, he will get the exemption.

hello, i dont think Mr.A will get an exemption U/s 54 of I.T Act. the section clearly provides for the assessee to purchase a new house property, one year prior or 2 yrs after the sale of LTCA. in this case, Mr.A's father brought the house (registration of house in Mr.A's name is irrelevant for income tax Act). the loan was taken by Mr.A's father and bought by him. hence as per I.T he is the buyer. Mr.A aquired the house property by virtue of WILL only. the loan repayment made by Mr.A is also by virtue of Will only. As per the will the person who obtains rights on the inherited property also has to bear with the libilities on such property.

so Mr. A cannot claim exemption U/s 54 .