Mr. Rajiv, an Indian resident, purchased a residential house property at Gwalior on 28.05.1999 for 28.5 lakhs. The fair market value and the stamp…

Mr. Rajiv, an Indian resident, purchased a residential house property at Gwalior on 28.05.1999 for 28.5 lakhs. The fair market value and the stamp duty value of such house property as on 1.4.2001 was - 33.5 lakhs and - 32.4 lakhs, respectively. On 25.03.2014, Mr. Rajiv entered into an agreement with Mr. Virat for sale of such property for 74 lakhs and received an amount of 3.9 lakhs as advance. However, as Mr. Virat did not pay the balance amount, Mr. Rajiv forfeited the advance. On 15.04.2023, Mr. Rajiv sold the house property to Mr. Suraj for 2.10 crores, when the stamp duty value of the property was - 2.33 crores. Cost inflation index - P.Y. 2023-24: 348; P.Y. 2013-14: 220; P.Y. 2001-02: 100 From the information given above, choose the most appropriate answer to the following questions