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2016 (3) TMI 1365 - ITAT AMRITSARDenial of exemption of claim made by assessee u/s 54B - investment made in the name of wife and bhabhi - HELD THAT:- In the present case, the instead of son the part investment has been made in the name of his wife, therefore, we agree with the contention of learned AR that investment in the name of wife was eligible u/s 54B of the Act. However, the investment in the name of his Bhabhi is not eligible for exemption u/s 54B, therefore, taxable capital gain in the case of the assessee is restricted to ₹ 2,02,955/-.
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