Assessee transferred her long-term investment in shares and in lieu thereof received land of equal value and claimed exemption u/s 54F of the Act.  Assessing Officer disallowed exemption on ground that land upon which house was constructed could not have been transferred without permission of ADDA and no such permission was granted till date and therefore, there was no transfer of land in favour of assessee. CIT(A) affirmed the order of the AO. On appeal the Tribunal held though deal was finalized on 3-8-2012, however, there were certain legal/technical constraints as ADDA had imposed condition that permission of transfer of land in favour of assessee would be granted only on completion of construction of property. Therefore, because of  technical compulsions, house was constructed first and then land was transferred in name of assessee. Tribunal held that the  investment in purchase of land and construction of house on it was made within stipulated period, denial of  exemption under section 54F of the Act is not justified. As regards addition n under S.56(2)(vii)(b)  the  dfference in value of land given by DVO and value of land mentioned by assessee in transfer deed was less than 5 per cent, no addition was warranted on account of differential amount between value of land given by DVO and value of land.  (AY. 2014-15)