No withdrawal of sec. 54 relief if new house was transferred to daughter within 3 years

IT: Where assessee had sold his residential property in April, 2010 and invested sale proceeds in August, 2010 in another residential property and in November, 2010 he had settled new property to his daughter out of love and affection, settlement of property was a gift falling under section 47(iii) and assessee was entitled to exemption under section 54 in respect of capital gains arising on sale of property