Can capital gains exemption u/s 54F or 54 be claimed for buying land also?

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Yes, one can claim exemption from capital gains u/s 54 or 54F for land purchase , but only if the said land is part of land on which house is being constructed. ┬áThis is the decision in ACIT vs Narendra Mohan Uniyal (2009) 34 SOT 152(Del), dt.31.08.2009. Facts of the case The assessee sold a…

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