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.
Facts:
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.
