https://www.taxtmi.com/forum/issue?id=3204 A taxpayer bought rural agricultural land, later exchanged it for urban land with differing recorded consideration and higher declared market values (on which stamp duty was paid), subsequently sold the urban land for a lower recorded consideration than the declared market value, and reinvested in agricultural land; the primary question is which cost of acquisition applies for computing short-term or long-term capital gains given the sequence of exchanges, disparities between actual and market values, and the stamp-duty-based valuation. en-us Thu, 21 Jul 2011 19:25:47 +0530 Thu, 23 Jan 2025 15:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3204 A taxpayer bought rural agricultural land, later exchanged it for urban land with differing recorded consideration and higher declared market values (on which stamp duty was paid), subsequently sold the urban land for a lower recorded consideration than the declared market value, and reinvested in agricultural land; the primary question is which cost of acquisition applies for computing short-term or long-term capital gains given the sequence of exchanges, disparities between actual and market values, and the stamp-duty-based valuation. Discussion-Forum Income Tax Thu, 21 Jul 2011 19:25:47 +0530 https://www.taxtmi.com/forum/issue?id=3204