section 54F LTCG

M.Muthukumar (Chartered Accountant) (78 Points)

27 October 2009  

If im the joint owner(me and my father) of any other asset other than residential house and want to sell it to buy a residential house in our joint name, can i claim the exemption u/s 54F wholly in my name though im the joint owner of the old asset? If yes, is there any case law relating to this decision?please quote it for my reference.