Transfer of capital asset by shareholder to company

Dear Sir,
Mr. A is a registered owner of land. He is also a shareholder in company B. Company B wants to build a mall on that land.
My query is:
1) If Mr. A sells land to Company B, then it will be taxed as LTCG. Neither company nor Mr. A wants to pay tax.
2) If Mr. A gives that land on lease to company B & than company B builds mall on that land. Whether any provisions of Income Tax or Companies Act are violated. If not what are the other points to be kept in mind.

If u have any other way than please suggest.
Please reply ASAP.
Thanks