The Hon’ble ITAT, Indore Bench in the case of Indore Paraspar Sahkari Grah Nirman Sanstha ITA No. 322/Ind/2023 order dated 18.06.2024 held that section 50C is not applicable on lease property and when the transfer of capital asset is took place as per approval and under the supervision of the statutory authorities and after due process of inviting the public objections in respect of the said transactions.