Is there any relief available in case of a sale of an immovable property which is being sold in distress due to occupancy by the tenant because of which owner is not capable of giving physical possession of the property as the litigation is pending in court of law. In case any judgement for the same is available, please share.
Thanks
Since the subject property is already under litigation, it cannot be sold to a third party due to lis pendens. I think you may first consult your advocate before trying to sell the property.
If you have already sold the property in distress to a third party but tenant is not vacating the house, then distress sale is not consdered any differently from a normal sale, and will be subject to capital gain tax.
Subrahmanyam & Sivudu CA Firm
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