https://www.taxtmi.com/forum/issue?id=120957 Capital gains consequences depend on the legal nature of the settlement and the documents executed. If the original owner receives apartments in lieu of his land claim and relinquishes rights in the land, the arrangement may amount to a transfer and capital gains may arise, with consideration generally taken as the fair market value of the apartments. Section 78 is not automatic and applies only if the statutory conditions for transfer of land or building for inadequate consideration are satisfied. en-us Wed, 10 Jun 2026 16:36:07 +0530 Sat, 11 Jul 2026 11:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120957 Capital gains consequences depend on the legal nature of the settlement and the documents executed. If the original owner receives apartments in lieu of his land claim and relinquishes rights in the land, the arrangement may amount to a transfer and capital gains may arise, with consideration generally taken as the fair market value of the apartments. Section 78 is not automatic and applies only if the statutory conditions for transfer of land or building for inadequate consideration are satisfied. Discussion-Forum Income Tax Wed, 10 Jun 2026 16:36:07 +0530 https://www.taxtmi.com/forum/issue?id=120957