https://www.taxtmi.com/caselaws?id=5936 An auction sale of assets conducted to recover cane cess arrears as arrears of land revenue was treated as a "sale" within section 10(2)(vii) of the Indian Income-tax Act, 1922, because statutory recovery through auction did not exclude the element of consent where the assessee had entered the legal framework knowing default could lead to such sale. For section 12B, the relevant transfer was taken to occur only on issuance of the sale certificate, since the special revenue procedure made confirmation, possession, and the certificate operative for transfer, and displaced section 65 of the Code of Civil Procedure to the extent of inconsistency. en-us Wed, 16 Jul 1986 00:00:00 +0530 Sun, 30 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5936 An auction sale of assets conducted to recover cane cess arrears as arrears of land revenue was treated as a "sale" within section 10(2)(vii) of the Indian Income-tax Act, 1922, because statutory recovery through auction did not exclude the element of consent where the assessee had entered the legal framework knowing default could lead to such sale. For section 12B, the relevant transfer was taken to occur only on issuance of the sale certificate, since the special revenue procedure made confirmation, possession, and the certificate operative for transfer, and displaced section 65 of the Code of Civil Procedure to the extent of inconsistency. Case-Laws Income Tax Wed, 16 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5936