https://www.taxtmi.com/forum/issue?id=120765 Section 54 permits exemption only if the assessee reinvests long term capital gain in a new residential house purchased in the name of the assessee or jointly with the assessee; ownership and control by the assessee are the operative conditions. Purchases solely in the names of a son and daughter in law after transfer of sale proceeds to them will generally not satisfy the requirement. Narrow spouse exceptions exist but do not reliably extend to other relatives. Claiming exemption on these facts risks scrutiny absent documentary proof of beneficial ownership or joint title. en-us Wed, 18 Feb 2026 18:49:00 +0530 Thu, 19 Feb 2026 15:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120765 Section 54 permits exemption only if the assessee reinvests long term capital gain in a new residential house purchased in the name of the assessee or jointly with the assessee; ownership and control by the assessee are the operative conditions. Purchases solely in the names of a son and daughter in law after transfer of sale proceeds to them will generally not satisfy the requirement. Narrow spouse exceptions exist but do not reliably extend to other relatives. Claiming exemption on these facts risks scrutiny absent documentary proof of beneficial ownership or joint title. Discussion-Forum Income Tax Wed, 18 Feb 2026 18:49:00 +0530 https://www.taxtmi.com/forum/issue?id=120765