Assessee had sold certain agricultural land and two flats and purchased a plot of land for construction of residential house.  Assessing Officer denied claim for exemption under section 54F for reasons that sale deed reflected subject property as a plot of land.  On appeal, assessee contended that what was purchased was in fact a residential house, and as he wanted to build a new house thereon, structure was dismantled and as dismantling could not be completed by date of spot inspection directed by Sub-Registrar, he levied stamp duty on super-structure as well. Commissioner (Appeals) allowed part relief to assessee. On appeal the Tribunal held that  sale deed, was only a plot of land for construction of a residential house thereon rather, but for demolition having been completed by date of inspection, no stamp duty would have been paid on structure part and no case for construction of a residential house had been preferred or pressed at any stage by assessee.   Exemption under section 54F on purchase of plot could not be allowed. Investment if at all, could be taken into account that would be to extent of assessee’s share in property purchased being at one-half and would be exigible only in respect of capital gain arising on transfer of a long-term capital asset/s other than a residential house. (AY. 2012-13)