The Bangalore Tribunal held that where an assessee has utilised the amount for acquiring a new asset, after the regular due date of filing return but before the date of filing of the belated return (i.e., within two years from the last date of financial year), he will be entitled to claim exemption under Section 54F from capital gains. In order to claim exemption under Section 54F, the assessee invested capital gains on sale of shares in various months. The assessing officer disallowed the exemption on the ground that investment should have been made before the regular date of filing of return. However, the assessee had invested such gain before the date of filing belated return. The tribunal observed that provisions of Section 54F do not mention any specific sub-section of Section 139 and it only provides for investment to be made before the due date of furnishing the return of income. Therefore, to claim the exemption, assessee need not utilise the amount of gain for acquisition of new asset before the regular due date of filing return. Accordingly, the claim of the assessee was allowed.