2008 (9) TMI 234 - BOMBAY HIGH COURT

Capital gains tax – exemption - Sale proceeds from sale of Capital assets invested by assessee in residential house in name of his adopted son – deceased assessee admittedly had no domain or right whatsoever on the said property – this fact itself therefore, disentitled him to claim any exemption for non-compliance with conditions of sections 54 and 54F - For qualifying the exemption it is necessary and applicable to have the investments made in residential house in the name of the assessee only