https://www.taxtmi.com/caselaws?id=192086 Section 29 of the recovery law incorporates the Second and Third Schedules to the Income-tax Act with necessary modifications, so the debtor receives notice of the sale proclamation but not a prior hearing on valuation or reserve price fixation unless the incorporated rules expressly confer that right. On that basis, regulation 60, allowing confidential valuation by an approved valuer and reserve price fixation on that valuation, was treated as consistent with the statutory scheme. The sale must still be confined to what is necessary to realise the dues, and the extent of the property to be sold required further valuation-based examination. en-us Wed, 01 Sep 2004 00:00:00 +0530 Fri, 12 May 2017 17:01:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192086 Section 29 of the recovery law incorporates the Second and Third Schedules to the Income-tax Act with necessary modifications, so the debtor receives notice of the sale proclamation but not a prior hearing on valuation or reserve price fixation unless the incorporated rules expressly confer that right. On that basis, regulation 60, allowing confidential valuation by an approved valuer and reserve price fixation on that valuation, was treated as consistent with the statutory scheme. The sale must still be confined to what is necessary to realise the dues, and the extent of the property to be sold required further valuation-based examination. Case-Laws Indian Laws Wed, 01 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192086