https://www.taxtmi.com/forum/issue?id=108483 The assessee, holding a 20% undivided share in a sold residential house, invested sale proceeds in a residential flat allotted by the developer and claimed exemption under section 54 for long term capital gains. The Assessing Officer denied the exemption on the ground that the assessee was not the absolute owner and therefore, in the AO's view, a co owner cannot claim the benefit; the issue posed is whether a co owner who invests in an allotted flat meets the ownership and investment conditions for the exemption. en-us Thu, 23 Apr 2015 18:11:11 +0530 Thu, 23 Jan 2025 15:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108483 The assessee, holding a 20% undivided share in a sold residential house, invested sale proceeds in a residential flat allotted by the developer and claimed exemption under section 54 for long term capital gains. The Assessing Officer denied the exemption on the ground that the assessee was not the absolute owner and therefore, in the AO's view, a co owner cannot claim the benefit; the issue posed is whether a co owner who invests in an allotted flat meets the ownership and investment conditions for the exemption. Discussion-Forum Income Tax Thu, 23 Apr 2015 18:11:11 +0530 https://www.taxtmi.com/forum/issue?id=108483