Assessee inherited a residential Flat. He entered into a development agreement and surrendered said old  flat . He received new residential flat after development . In return of  income assessee neither offered capital gains nor claimed any deduction under S. 54 or 54F of the Act . In course of  assessment proceedings, assessee offered capital gain and Claimed deduction under wrong S. 54F of the Act . The AO disallowed the claim which was affirmed by the CIT (A) . On appeal the Appellate Tribunal held that merely because assessee had not offered or  disclosed capital gain on  transfer of  flat in  his  return of  income, it  would not disentitle him from availing statutory deduction if  he was entitled to  it . Tribunal held that revenue authority had no doubt that flat that was transferred and received back after re-development was residential property, merely because assessee claimed deduction under wrong provision of  S. 54F  assesses  claim could not be  disallowed if  it  was allowable under an appropriate provision. Accordingly the assessee is held to be entitled to deduction under S. 54  of the Act . (AY. 2012-13)