https://www.taxtmi.com/caselaws?id=416845 In a statutory revenue auction, timely payment of the full purchase money was treated as mandatory, so failure to deposit the balance 85% within 30 days prevented a concluded sale and left the bidder without any enforceable right to confirmation. The Government memo directing confirmation could not override this statutory consequence and was treated as ineffective after the default. A belated challenge to the auction and sale notice, raised nearly nine years later, was not examined on merits and was treated as academic in light of the failed auction. The text also notes that forfeiture or refund of the initial deposit was left for administrative decision. en-us Tue, 04 Jan 2022 00:00:00 +0530 Mon, 10 Jan 2022 08:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416845 In a statutory revenue auction, timely payment of the full purchase money was treated as mandatory, so failure to deposit the balance 85% within 30 days prevented a concluded sale and left the bidder without any enforceable right to confirmation. The Government memo directing confirmation could not override this statutory consequence and was treated as ineffective after the default. A belated challenge to the auction and sale notice, raised nearly nine years later, was not examined on merits and was treated as academic in light of the failed auction. The text also notes that forfeiture or refund of the initial deposit was left for administrative decision. Case-Laws VAT and Sales Tax Tue, 04 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416845