https://www.taxtmi.com/circulars?id=10415 Properties purchased under Chapter XXC must be offered by open public auction within three months; if unsold after three auctions they shall be offered by sealed tenders, and if still unsold may be disposed of by direct negotiations limited to public sector undertakings and government departments starting at market value and not below the fixed reserve price. A tiered payment schedule and bank payment requirements apply; defaults lead to forfeiture and re-sale with recovery of any deficiency. Purchasers bear conveyance costs and outstanding dues, and standard auction and tender terms and procedural safeguards are prescribed. en-us Mon, 19 Jul 1993 00:00:00 +0530 Mon, 13 Jun 2011 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10415 Properties purchased under Chapter XXC must be offered by open public auction within three months; if unsold after three auctions they shall be offered by sealed tenders, and if still unsold may be disposed of by direct negotiations limited to public sector undertakings and government departments starting at market value and not below the fixed reserve price. A tiered payment schedule and bank payment requirements apply; defaults lead to forfeiture and re-sale with recovery of any deficiency. Purchasers bear conveyance costs and outstanding dues, and standard auction and tender terms and procedural safeguards are prescribed. Circulars Income Tax Mon, 19 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10415