Exemption under section 54 is avaliable even if residential property is purchased in the joint name of assessee, daughter and son-in-law

Rachna sola a residential property and invested entire amount on purchase of a new residential property in joint names of her daughter and son-in-law and claimed exemption under section 54 of the income tax act. Tax officer disallowed her exemption on the ground that new property can be purchased in her name only. CIT(A) allowed […]