Assessee sold a residential house and invested sale consideration for purchase of plot for purpose of construction of residential house thereon and claimed exemption under S.54 of the Act. AO  disallowed the claim on the ground that the assessee had neither purchased a house nor constructed a house within period of three years. Tribunal held that since, inspite having made payment for plot within stipulated period, developer failed to give possession of plot and thus, assessee could not construct residential house within a period of three years from date of sale of property by assessee because of reasons beyond control of assessee, amount utilized by assessee for acquisition of plot was to be construed as amount invested in purchase/construction of residential house. Accordingly entitled for exemption. (AY. 2015 -16)