Dismissing the appeal of the revenue the Tribunal held that ; when the sale was distress sale and transactions between Government entities S. 50C provision cannot be applied . ( AY. 2012-13)
ITO v. Southern Steel Ltd. (2018) 61 ITR 126 (Hyd) (Trib)
S. 50C : Capital gains – Full value of consideration – Stamp valuation – Distress sale -Transactions between Government entities, provision cannot be applied . [ S. 45 ]