A GIFTED HOUSE TO HIS SON B WHICH HE WAS PURCHASED IN 1982 IN SEPTEMBER 2008. FOR RS. 50000.B SOLD THIS HOUSE TO C FOR 5000000 IN DECEMBER 2008.BUT ONCE A HAS RECEIVED RS.100000/- IN 1983 AS ADVANCE AGAINST AGREEMENT TO SELL BUT DEAL NOT MATUARED & ADVANCE IS FORFIETED.NOW MY QUESTIONS ARE FOLLOWING:-
A) WHETHER NO INDEXTION BENEFIT ARE AVAILABLE TO B ON SALES IN SUCH CASE.
B) WHETHER THIS CAPITAL GAIN IS STCG OR LTCG
C) WHICH IS THE COST OF ACQUISATION FOR B FOR CALCULATING CAPITAL GAIN.