Assessee had sold shares and sale proceeds were deposited by assessee in bank account maintained in joint name of assessee and his wife.  He invested sale consideration in purchase of new residential house and accordingly, claimed deduction under section 54F of the Act. The   Assessing Officer disallowed same on ground that assessee was owner of two other residential properties, thus, as per proviso (ii) of section 54F assessee could not be allowed exemption. Tribunal held that one of those properties was a commercial property and remaining one was residential property which was fully owned by wife of assessee and merely name of assessee was included in purchase deed. The Tribunal also held that there was no doubt that purchase consideration for property which was claimed to be jointly owned by assessee and his wife was completely paid by his wife as she had sufficient own funds which were received as her share in sale proceeds of shares. Accordingly denial of exemption is held to be not justified.  (AY. 2013-14)