[aaykarbhavan] Long Term Capital Gain Query

Kindly give your valuable advice :

One of my friend, Mr. A  - an Individual, sold a plot of land in 2011 and made Long Term Capital Gain (LTCG) of Rs. 5 Lac. He invested the money in a residential house.

Now, in 2013, he sold this residential house by making Short Term Capital Gain (STCG) of Rs. 2 Lac.

1). What would be the tax treatment on previous LTCG of 5 Lac as the residential house is sold before completion      of 3 years?

2).  If this LTCG is to be reversed, what is the procedure and how would the tax be calculated?

3).  Could this reversed Capital Gain be invested in Capital Gain Saving Bonds now?

Thanks :-)

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