Assessee  sold certain bonds/debenture and claimed that it had reinvested sale consideration for acquiring mutual funds; therefore, while computing capital gain, amount invested for purchase of mutual fund needed to be allowed as deduction under section 11(1)(a) of the Act. Tribunal held that such claim was neither discussed by Assessing Officer in his assessment order nor emanating from records furnished by assessee before lower authorities.  Neither in return of income nor in revised return or revised statement of total income before Assessing Officer, there was any claim as said issue was not placed at time of assessment proceedings. Accordingly the disallowance of claim is held to be justified. Tribunal also held that failure to file revised Form claiming additional amount as accumulated income after 6 years, but failed to file any details with regard to availability of funds for making investment in modes specified under section 11(5), claim could not be allowed. (AY. 2012-13)