Section 54 of income tax act

Yes, he can take the exemption of full amount if the following condition are satisfied:-

1)  He has invested full consideration

2) purchased a new property

Note:- it is irrelevant that property is in his name or in other's family member's name. there is no any condition regarding ownership in sec 54.

Delhi High Court has also decided in the case of CIT Vs kamal wahal (2013)351 ITR 4 (Delhi) , that assessee is entitled to claim exemption in respect of utilization of sale proceeds in the name of his wife.

Now, I hope, You are clear to your question....

take full exemption........

Thank you for prompt reply

Yes, he can claim full exemption if he paid, atleast amount equal to capital gain arises, for the investment in new residential property.

In case of any doubt, you can approach me @ https://taxhow.in/ask-queries/