The assessee sold a residential property and reinvested in a new residential house jointly with her husband, claiming exemption under section 54. The AO denied exemption, holding that two properties were transferred, violating section 54 conditions. The Tribunal held that prior to the amendment effective 01.04.2015, no restriction existed against claiming exemption as a co-owner. Deduction must be allowed proportionately to the assessee’s share of investment, subject to verification that no double benefit was claimed by both spouses. (AY. 2012-13)