Please help!-tricky ltcg issue

lightspace22 (owner) (26 Points)

06 August 2013  

I have asked a few CA,s and vereyone gives me a differt answer! I hope memebes on this forum can help me out on ths one:

a piece of land worth 1cr was gifted to me by my father in april/13
I sold this land to 3 buyers(25% each). 25% is still to be sold in a months time.
All 3 registries were done on the same day-May/13, but on different names.

for LTCG exemption can I :
invest the entire 75 lakhs in one residentail house/flat? (Some CA's have said that I can invest the whole amount, as its from the sale of ONE land.)

Other say, since the registry is of 3 different people, the sales will be treated differently and i cannot club them. Hence I can only buy 1 house of 25 lakhs only.

Can someone throw some light on this?
your advice will be highly appreciated. Thank you in advance for your time.