https://www.taxtmi.com/caselaws?id=22049 A mere agreement to purchase immovable property does not create an interest in the property or a charge on it under section 54 of the Transfer of Property Act. In the context of rules 16, 48, 60 and 61 of the Second Schedule to the Income-tax Act, an agreement-holder who entered into the contract after the statutory recovery process had begun had only a pecuniary expectation, not a legally protected interest. Such a person was therefore not one whose interests were affected by the sale, lacked locus to seek setting aside of the auction sale under rule 61, and could not maintain a writ challenge to the rejection of that application. en-us Tue, 16 Apr 1991 00:00:00 +0530 Sat, 05 Dec 2009 16:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22049 A mere agreement to purchase immovable property does not create an interest in the property or a charge on it under section 54 of the Transfer of Property Act. In the context of rules 16, 48, 60 and 61 of the Second Schedule to the Income-tax Act, an agreement-holder who entered into the contract after the statutory recovery process had begun had only a pecuniary expectation, not a legally protected interest. Such a person was therefore not one whose interests were affected by the sale, lacked locus to seek setting aside of the auction sale under rule 61, and could not maintain a writ challenge to the rejection of that application. Case-Laws Income Tax Tue, 16 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22049