https://www.taxtmi.com/caselaws?id=14507 Recovery sales under the Second Schedule require strict compliance with the mandatory sequence of notice to the defaulter, expiry of the prescribed waiting period, and a fair proclamation of sale before execution steps are taken. A proclamation issued before the statutory period had elapsed, or without proper notice and specification of the reserve price as required, was treated as procedurally defective. The text emphasises that these safeguards protect the defaulter's property interests and that deviation from them can invalidate the proclamation and render the auction sale unsustainable. en-us Fri, 24 Nov 2000 00:00:00 +0530 Thu, 16 Jul 2009 12:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14507 Recovery sales under the Second Schedule require strict compliance with the mandatory sequence of notice to the defaulter, expiry of the prescribed waiting period, and a fair proclamation of sale before execution steps are taken. A proclamation issued before the statutory period had elapsed, or without proper notice and specification of the reserve price as required, was treated as procedurally defective. The text emphasises that these safeguards protect the defaulter's property interests and that deviation from them can invalidate the proclamation and render the auction sale unsustainable. Case-Laws Income Tax Fri, 24 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14507