Urgent pls reply!

Rajat Gurnani (Student) (60 Points)

26 November 2012  

Dear All,

My mother received a gift in cash (through bank) from her father, i hope the same is exempt in her hands.

Next is that she purchased a house from the same money. (Within 1 yr of sale of the below house)

Further she sold a house which she got from inheritance...

Now finally my ques is can we treat this income from sale of house exempt on the clause that we purchased a new house within 1 yr?

Hoping for a good answer!

Pls reply...:-)