Reserve price: Tax Recovery Officer may require bids to meet a fixed reserve for non-agricultural property sales. The Tax Recovery Officer is empowered to fix a reserve price for the sale of any property other than agricultural produce and to order that bids be ... Summary
Reserve price: Tax Recovery Officer may require bids to meet a fixed reserve for non-agricultural property sales.
The Tax Recovery Officer is empowered to fix a reserve price for the sale of any property other than agricultural produce and to order that bids be accepted only if they are not less than that reserve price, as a procedural measure under the Income-tax (Certificate Proceedings) Rules, 1962.
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