Assessee sold 1/4th share in a residential house and invested sale consideration for construction of a new house.  He claimed exemption under section 54 of the Act. The  Assessing Officer denied the claim   on  the ground that assessee had failed to deposit sale consideration in CGAS before due date of filing of return under section 139(1) and same was deposited after a delay of 31 days. CIT(A) allowed the claim. On appeal the Tribunal held that  since the  assessee had invested sale consideration towards construction of new house well within stipulated period of three years from date of sale in compliance with section 54(1), he could not be denied benefit of section 54 merely because he deposited sale consideration amount in capital gain account with a delay of 31 days. (AY. 2016-17 )