Section 54: reinvestment in other person's name

In past judiciary has ruled in favor of the assessee in such cases.

However, in past few years, judiciary has approached a much less liberal approach and often disallowed exemption where the new house property is not in the name of the assessee.

However, you can purchase the property jointly with your mother name. i.e in your name and your mother's name..

Under this you can claim exemption U/S 54..

regards,

Dear Kishor,

You are confusing with the facts of Jennifer Bhide case.  In that case the investment was made in the joint property.  In the present case, the assessee wishes to buy the house in the name of his mother.  That is the bone of contention.

The property was in joint name. You got LTCG of 30 lacs. This LTCG shall be divided between you and your father. So, not only you, your father, too, is required to avail this exemption u/s 54. 

I think this way should be better way..

First of all you and your father Jointly Purchase the House to take exemption of CG and than via Gift deed gift it to your mother...

i believe the reason to buy in mother's name is to claim lower stamp duty benefit!!

So the trade off is to be done.