Held that capital gains arising on the sale of residential house which was in joint ownership of the assessee and his wife is to be divided and is not assessable in the assessee’s hand alone. Exemption  is allowable to the extent of the amount invested in the new property including the stamp duty paid thereon; exemption cannot be disallowed on the ground that the new property has been purchased in the joint names of the assessee and his son. (AY. 2011-12)