No Section 50C Addition if Consideration Follows Pre Circle Rate Hike Agreement

PCIT Vs Thomson Press (India) Ltd (Delhi High Court) Delhi High Court on July 5, 2025, dismissed an appeal filed by the Principal Commissioner of Income Tax (PCIT) against Thomson Press (India) Ltd, affirming an earlier order by the Income Tax Appellate Tribunal (ITAT). The case, pertaining to Assessment Year 2014-15, centered on an addition of ₹20 crore made by the Assessing Officer (AO) under Section 50C of the Income Tax Act, 1961, related to the sale of an immovable property. The dispute arose from a transaction involving M/s Living Media India Limited (which later merged with Thomson Pr...