{"id":54242,"date":"2025-05-16T13:12:26","date_gmt":"2025-05-16T07:42:26","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=54242"},"modified":"2025-05-16T13:12:26","modified_gmt":"2025-05-16T07:42:26","slug":"query-on-coa-of-land","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/query-on-coa-of-land\/","title":{"rendered":"Query on COA of Land"},"content":{"rendered":"<p>A has purchased Agri land for Rs.10 Lakhs in the year 2000. In FY 2023-24 A has converted this Agri Land to NA land for selling them in various plots. Valuation of the land on the date of conversion was Rs.100 Lakhs.<\/p>\n<p>All plots have been sold in FY 2024-25 for Rs.300 lakhs.<\/p>\n<p>Now query is, whether A can claim Rs.100 lakhs i.e. value as on date on conversion as a cost of land against sale of Rs.300 lakhs?<\/p>\n<p>If yes then any supportive section.<\/p>\n<p>If no then any other alternatives?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1275],"qa_category":[23],"qa_tag":[24,1315,130],"class_list":["post-54242","qa","type-qa","status-publish","hentry","qa_expert-law-intern","qa_category-income-tax","qa_tag-capital-gains","qa_tag-conversion-of-land","qa_tag-cost-of-acquisition"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/54242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54242"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54242"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=54242"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=54242"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=54242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}