Preference share redemption payment

There is no TDS implication as far as I am aware.

In my recent reading,there is a supreme court decesion in Anarkali Sarabhai v/s CIT ( 1997) Taxman 509 ( SC) , Preference shares are movable property and goods, hence redemption of preference share is treated as sales, hence purshaser are required to deduct tds u/s 194Q , if turnover exceed 50 Lacs.

please see is it right?