If assessee had fulfilled condition of making investment of entire capital gain in purchase of residential house, she would be entitled to exemption under section 54F even if part of investment was made out of borrowed money.
a) The assessee had invested entire capital gains to purchase residential house. She had utilised housing loan to make part of the investment in house property. She claimed exemption under section 54F in respect of total investment.
b) The Assessing Officer completed assessment accepting assessee's claim.