Capital gain

Very complex issue.

The assesse should have either purchased it, or received it under re-development.

So, get the aquisition details, please.

Assessee is owner of land and recieved flats as per development agreement (construction of residential complex) 

thank you

Very good. Now capital gains over the received flats depend totally upon the conditions of Development Agreement, as the actual date of transer of the land depends upon it. In many cases it does not attract the clause under tranfer of property act also.

So, get the details as per Development agreement.