Held, that a proviso must be construed harmoniously with the main statute so as to give effect to the legislative objective. Section 54F should be read as a whole inclusive of the proviso in such manner that they mutually throw light on each other and result in a harmonious construction. The legislative intent behind granting relief to the assessee through section 54F was to incentivise investments in residential house in India. Therefore, the proviso imposing the conditions could not be read in isolation and should be construed harmoniously with the main section. The proviso to section 54F which contains the condition that the exemption is not available if the assessee owns more than one residential house, other than the new asset, should be interpreted to mean ownership of residential houses in India. Therefore, the ground on which the exemption under section 54F was denied was not tenable. The assessee was entitled to claim exemption under section 54F for investments made in India in one residential house within the time limit stipulated under that section. (AY. 2015-16).