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2018 (1) TMI 582 - AT - Income TaxCapital gain computation - AO has invoked section 50C merely relying on the SRO value for the purpose of stamp duty - sale of assets by the bank through action due to default in paying debts - Held that:- The sale was distress sale - AO cannot adopt the sale consideration at ₹ 21,88,97,000/- and invoke section 50C. See CIT Vs. Shr. Chandra Narain Chaudhri [2013 (9) TMI 646 - ALLAHABAD HIGH COURT] . Accordingly, we deem it fit to dismiss the grounds raised by the revenue.
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