SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN
C.A. No.-005899-005900 - 2014Supreme Court01 Jul 2014
Section 45Section 54
1) of the Act, it is very clear that
relief under Section 54 of the Act in respect of the long term capital
gain can be availed only if a residential house i.e. a new asset is
purchased within one year before or within two years after the date
on which the transfer of the residential house/original asset takes
place
