Assessee  claimed  exemption in respect of capital  gain on sale of property.  The AO denied benefit of deduction under section 54 for reason that assessee had not deposited unutilized capital gain in a specified bank account within due date for filing return of income as contemplated under section 54(2) of the Act. Before the Tribunal the assessee filed additional  evidence to show that within a period of 3 years from date of transfer of capital asset, it had put up construction of residential house and, therefore, requirement of deposit of unutilized capital gain in a specified bank account did not arise for consideration. The matter was remanded to the file of AO for verification. (AY.2014-15)