Gift of immovable property

In the given case, capital asset is house property

if

a)house property transfered for inadequate considertion,the following consequences will apply

if stamp value of given property exceeds sale consideration,then excess will be taxable in the hands of X,but not in hands of his married sister(but recent budget provides for taxation in both parties)i.e sec 50C will apply

b)for free consideration

no capital gain tax as,gift from relative is exempted from tax under INCOME FROM OTHER SOURCES

How ever at the time of transfer by x's sister,capital gain will be taxable in the hands of mr X