No Tax on Inherited Land and Rs 75L Deal in Delhi
Mr. Jain from Vasant Vihar, Delhi, inherited 400 square yards of leasehold land from his late mother in 1997. He converted it to freehold by 1999 and signed a deal with Aditya Developers to rebuild the property. The first floor was sold in three parts to different owners, while Aditya Builders retained rights to the entire first floor. The case involves property mutation and ownership agreements.
Economic Times··Delhi

