TMI BlogLTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one...LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the property at USA is a Farm House cannot be accepted. Since the assessee owned one more residential house at the time of transfer of original asset, the assessee is not entitled to claim the benefit of deduction u/s. 54F in respect of long term capital gains - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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