|QUERY:||The piece of agricultural land owned by the assessees is surrendered to Govt. urban land improvement authorities under land for land scheme. The plot is allotted after 2-3 years. What should be the date of acquisition for such plot received on surrender, for treatment of capital gain at the time of sale|
|ANSWER:||Click here to read the full answer of the expert|
|EXPERT:||CA. H. N. Motiwalla|
|CATCH WORDS:||capital gains, Sale of agricultural land|
For the purpose of capital gain at the time of sale of allotted plot, the date of allotment of plot would be considered as date of acquisition.