Assessee sold a non-agricultural land, in which he was a 1/4th co-owner, for a consideration of Rs. 8 crores. In return for income, assessee had disclosed capital gain of Rs. 25.38 lakhs after claiming deduction of Rs. 1.74 crores under section 54F. Assessing Officer held that assessee did not deposit capital gain in capital gain account scheme; further, there was no evidence brought on record that construction of new property was completed within a period of three years from the date of sale of original asset and assessee had also not verified that he did not own more than one house property; hence deduction claimed under section 54F was disallowed. CIT(A) affirmed the order of the Assessing Officer. On appeal, the Tribunal held that even if no deposit was made by assessee in the capital gain account, expenditure incurred towards the construction of the house till the due date for filing the return under section 139(4) was to be allowed as a deduction under section 54F.  Assessee, being the owner of not more than one house property as on the date of sale of the property under consideration, should also be examined by the Assessing Officer before allowing deduction under section 54F. Matter remanded] (AY. 2015-16)