Exemption in short term capital gain

U/s 50C , Circle rates can be treated as Sales Consideration. So the ITO is not wrong.

If rates have really come down in that area you may request the AO to get it valued form the department's valuation officer.

By investing in other property you will not get any exemption from STCG.

one of my client got a property  from ancestors, but the receipt document was in sale deed format (value rs,90,000/-). now he sold the same 1cr. and build a house worth 40 lac in gifted land ( no docs. now for that gift) 

is there is any exemption in short term capital gain?

can he get any benefit if  he show some value for the residential land  insted of gift 

and wat is laibility for the lady (aged 75) who is giving / gifting the land

pl advise