https://www.taxtmi.com/forum/issue?id=120095 The governing framework is Section 54F, which conditions exemption on reinvestment of the net consideration in a residential house within specified time limits and on the assessee not owning more than one residential house (other than the new asset) at the relevant dates. The statutory test looks to the investment actually made in the residential asset and whether it covers the capital gains sought to be exempted. If the purchase falls within the prescribed period and the investment exceeds the combined gains while the ownership condition is satisfied, the same investment may be relied upon for successive long-term capital gains. en-us Thu, 05 Jun 2025 16:59:51 +0530 Fri, 06 Jun 2025 20:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120095 The governing framework is Section 54F, which conditions exemption on reinvestment of the net consideration in a residential house within specified time limits and on the assessee not owning more than one residential house (other than the new asset) at the relevant dates. The statutory test looks to the investment actually made in the residential asset and whether it covers the capital gains sought to be exempted. If the purchase falls within the prescribed period and the investment exceeds the combined gains while the ownership condition is satisfied, the same investment may be relied upon for successive long-term capital gains. Discussion-Forum Income Tax Thu, 05 Jun 2025 16:59:51 +0530 https://www.taxtmi.com/forum/issue?id=120095