Allowing the appeal of the assessee the Tribunal held that ; If agreement for purchase of new residential house is made and entire purchase price is paid within three years from the date of transfer of the old asset, exemption u/s 54 is available. It is not required that the house must be completed within 3 years. The requirement in S. 54(2) that the capital gains should be deposited in the CGAS scheme is merely an enabling provision. If the assessee shows during assessment proceedings that the capital gains have been reinvested in the new residential house, exemption cannot be denied merely the amount was not deposited in the Capital gains account scheme . ( ITA No. 272/chd/2017, dt. 05.02.2018)(AY. 2013-14)