hi all please help me in solving the following practical case:-
Mrs A purchased a property on 24/10/1964 and she died on 21/02/89. After this there was a dispute between all of her sons and finally settlement was made by transfering property to Mr B., one of her son. Mr. B died on 28/9/07 . His only son Mr C transfered the property in the name of his wife Mrs D without any consideration for Rs1540000/- on which Rs 67000/- was paid as the stamp duty by his wife. His wife sold the property for Rs 1650000/- and again purchased a property for Rs 1417500/- including stamp duty. Please tell me about the tax treatment in such case.
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