https://www.taxtmi.com/caselaws?id=798493 Section 54F applies only where long-term capital gains arise from transfer of an asset other than a residential house; a transfer of a residential property is therefore governed by Section 54, not Section 54F. Section 54 requires the same assessee who transfers the original residential property to purchase or construct the replacement residential property within the prescribed period. A property bought solely in the spouse's name is treated as acquired by a distinct legal person and cannot be linked to the assessee's sale for the exemption. Consequently, capital gains remain taxable where neither provision's conditions are met. en-us Wed, 12 Aug 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798493 Section 54F applies only where long-term capital gains arise from transfer of an asset other than a residential house; a transfer of a residential property is therefore governed by Section 54, not Section 54F. Section 54 requires the same assessee who transfers the original residential property to purchase or construct the replacement residential property within the prescribed period. A property bought solely in the spouse's name is treated as acquired by a distinct legal person and cannot be linked to the assessee's sale for the exemption. Consequently, capital gains remain taxable where neither provision's conditions are met. Case-Laws Income Tax Wed, 12 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798493