https://www.taxtmi.com/caselaws?id=206785 Exemption under sections 54 and 54EC depends on the source of investment, not on whether the new residential property or specified bonds are purchased in joint names with the assessee's spouse. Where the entire consideration is paid from the assessee's funds and no contribution by the spouse is shown, the spouse's name in the sale deed or bonds does not reduce the assessee's entitlement. The analysis also relies on section 45 of the Transfer of Property Act, under which title follows the source of consideration absent a contrary arrangement. On that basis, full exemption was considered available and denial of half the benefit was unsustainable. en-us Mon, 26 Sep 2011 00:00:00 +0530 Wed, 20 Aug 2025 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206785 Exemption under sections 54 and 54EC depends on the source of investment, not on whether the new residential property or specified bonds are purchased in joint names with the assessee's spouse. Where the entire consideration is paid from the assessee's funds and no contribution by the spouse is shown, the spouse's name in the sale deed or bonds does not reduce the assessee's entitlement. The analysis also relies on section 45 of the Transfer of Property Act, under which title follows the source of consideration absent a contrary arrangement. On that basis, full exemption was considered available and denial of half the benefit was unsustainable. Case-Laws Income Tax Mon, 26 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206785