An assessee incurred a LTCG of say 45 lacs in the FY 2014-15. In the same year he bought a flat for say 40 lacs and immediately after one month sold the flat for 40 lacs. And then after few months he invested in another property for 40 lacs to be shown in ITR.
What will be the tax treatment for the flat bought and sold for the same value within few months time?
Thanks.
CAclubindia
