Tribunal held that purchasing capital asset i.e. land before period of one year prior to sale of another capital asset is not entitle to exemption. (AY.2013-14)
Parswanath Padmarajaiah Jain. v. ACIT (2019) 175 ITD 55 (Bang.) (Trib.)
S. 54F : Capital gains-Investment in a residential house- purchasing land before period of one year prior to sale of another capital asset- Not entitle to exemption. [S. 45]