Tribunal set aside the ex parte order passed by the CIT(A) and directed that  the issue of deduction under section 54F of the Act was required to be considered and decided after considering the facts of utilization of the sale proceeds in construction of a new residential house. The matter was to be restored to the Assessing Officer for deciding the issue afresh after giving due and reasonable opportunity of hearing to the assessee. Matter remanded.(AY. 2010-11)