https://www.taxtmi.com/circulars?id=9892 The instructions establish that the minimum reserve price is 115% of the apparent consideration but allow the Chief Commissioner to set a higher reserve if market conditions warrant. Any proposal to set the reserve below that minimum must be sent to the Board with detailed reasons, though prompt disposal measures should be used to avoid such reductions. For repeatedly unsold properties, Chief Commissioners should engage auctioneers and may increase commission to encourage sale. Automatic monthly increases in reserve for auction delays are discouraged; auctions should be completed within three months of completing Chapter XXC formalities. en-us Wed, 19 Sep 1990 00:00:00 +0530 Sat, 09 Feb 2013 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9892 The instructions establish that the minimum reserve price is 115% of the apparent consideration but allow the Chief Commissioner to set a higher reserve if market conditions warrant. Any proposal to set the reserve below that minimum must be sent to the Board with detailed reasons, though prompt disposal measures should be used to avoid such reductions. For repeatedly unsold properties, Chief Commissioners should engage auctioneers and may increase commission to encourage sale. Automatic monthly increases in reserve for auction delays are discouraged; auctions should be completed within three months of completing Chapter XXC formalities. Circulars Income Tax Wed, 19 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9892