The assessment was selected for limited scrutiny regarding disclosure of investment in property; however, the AO disallowed the deduction under section 54F without converting the proceedings into complete scrutiny. The Tribunal held that the AO exceeded his jurisdiction and the addition was invalid. Further, where the assessee utilised the capital gains within the prescribed period for the purchase of an old uninhabitable house and construction of a new residential house, exemption under section 54F could not be denied merely because construction was completed after three years. AY. 2016-17).