Modalities of fixing the reserve price of properties purchased under Ch.XXC.

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Full Text of the Document

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....and communicated vide minutes thereof, comprehensive instructions on the modalities of fixing the reserve price for auction of properties purchased under Chapter XXC are as under:- 1. The limit of reserve price at 115% of the apparent consideration is only the minimum limit. It is for the concerned Chief Commissioners of Income-tax to fix the reserve price at a figure higher than 115% of the ap....