AO denied exemption on grounds that assessee was owner of more than one residential property and secondly new residential house was not constructed within three years from date of sale of land. Tribunal held that except a share in ancestral house, assessee did not possess any other residential property on date of sale of land and further, assessee furnished approved plan of municipal corporation regarding one single house constructed by assessee within three years of sale of land. Accordingly entitle for exemption. (AY. 2009-10)