Assessee sold a residential house property and invested sale consideration for purchasing another house property. And claimed the exemption. Exemption was originally was allowed. Thereafter the AO reopened the assessment on ground that sale proceeds were deposited in a joint account of assessee with his wife and were further converted in fixed deposits and investment was made from another bank account which was assessee’s account where professional receipts were deposited, thus, assessee had not utilised sale consideration from sale of old property to purchase new property, consequently the  assessee was not entitled to claim exemption. On appeal the CIT (A) also confirmed the disallowance of exemption. On appeal the Tribunal held that law does not require assessee to hold on to very same money and demonstrate that very same money was utilized in acquisition of asset and requirement of law is that money so available to assessee to that extent on which exemption under S. 54 was claimed ought to be invested in acquisition of specific asset within stipulated time on facts. (AY.2008 -09)