capital gain tax- Purchase of plot is claimeing of exemption

[murugesan anbuchezhian]

my capital gain was calculated 70.5 lacs i the assessment year 2007-08.in this regard i have purchased a plot but no development till date. and no investment.

but the is there any way to escape from tax

[DR.MARIAPPAN GOVINDARAJAN]

In my view no.

AI Summary

Capital gain exemption may be unavailable where purchase of an undeveloped plot lacks qualifying reinvestment. Capital gains were assessed and the taxpayer purchased a vacant plot without development, asking if that purchase supports an exemption claim; the respondent replied that no exemption is available, indicating the purchase of an undeveloped plot without qualifying reinvestment was not seen as a basis to avoid capital gains tax.