Income Tax Act, 2025
Section 2: Ins. by s. 81, ibid, (w.e.f. 11975).
2. Ins. by s. 81, ibid, (w.e.f. 11975).
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(2) Where the Tax Recovery Officer so directs, such proclamation shall also be published in the
Official Gazette or in a local newspaper, or in both; and the cost of such publication shall be deemed to be
costs of the sale.
(3) Where the property is divided into lots for the purpose of being sold separately, it shall not be
necessary to make a separate proclamation for each lot, unless proper notice of the sale cannot, in the
opinion of the Tax Recovery Officer, otherwise be given.
55. Time of sale.—No sale of immovable property under this Schedule shall, without the consent in
writing of the defaulter, take place until after the expiration of at least thirty days calculated from the date
on which a copy of the proclamation of sale has been affixed on the property or in the office of the Tax
Recovery Officer, whichever is later.
56. Sale to be by auction.—The sale shall be by public auction to the highest bidder and shall be
subject to confirmation by the Tax Recovery Officer:
1[Provided that no sale under this rule shall be made if the amount bid by the highest bidder is less
than the reserve price, if any, specified under clause (cc) of rule 53.]
57. Deposit by purchaser and resale in default.—(1) On every sale of immovable property, the
person declared to be the purchaser shall pay, immediately after such declaration, a deposit of twenty-five
per cent on the amount of his purchase money, to the officer conducting the sale; and, in default of such
deposit, the property shall forthwith be resold.
(2) The full amount of purchase money payable shall be paid by the purchaser to the Tax Recovery
Officer on or before the fifteenth day from the date of the sale of the property.
58. Procedure in default of payment.—In default of payment within the period mentioned in the
preceding rule, the deposit may, if the Tax Recovery Officer thinks fit, after defraying the expenses of the
sale, be forfeited to the Government, and the property shall be resold, and the defaulting purchaser shall
forfeit all claims to the property or to any part of the sum for which it may subsequently be sold.
2[59. Authority to bid.—(1) Where the sale of a property, for which a reserve price has been
specified under clause (cc) of rule 53, has been postponed for want of a bid of an amount not less than
such reserve price, it shall be lawful for an 3[Assessing Officer], if so authorised by the 4[ 5[Principal
Chief Commissioner or Chief Commissioner] or 6[Principal Commissioner or Commissioner]] in this
behalf, to bid for the property on behalf of the Central Government at any subsequent sale.]
7[(2)] All persons bidding at the sale shall be required to declare, if they are bidding on their own
behalf or on behalf of their principals. In the latter case, they shall be required to deposit their authority,
and in default their bids shall be rejected.
Where the Tax Recovery Officer so directs, such proclamation shall also be published in the
Official Gazette or in a local newspaper, or in both; and the cost of such publication shall be deemed to be
costs of the sale.
Where the property is divided into lots for the purpose of being sold separately, it shall not be
necessary to make a separate proclamation for each lot, unless proper notice of the sale cannot, in the
opinion of the Tax Recovery Officer, otherwise be given.
55. Time of sale.—No sale of immovable property under this Schedule shall, without the consent in
writing of the defaulter, take place until after the expiration of at least thirty days calculated from the date
on which a copy of the proclamation of sale has been affixed on the property or in the office of the Tax
Recovery Officer, whichever is later.
56. Sale to be by auction.—The sale shall be by public auction to the highest bidder and shall be
subject to confirmation by the Tax Recovery Officer:
1[Provided that no sale under this rule shall be made if the amount bid by the highest bidder is less
than the reserve price, if any, specified under clause
of rule 53.]
57. Deposit by purchaser and resale in default.—
On every sale of immovable property, the
person declared to be the purchaser shall pay, immediately after such declaration, a deposit of twenty-five
per cent on the amount of his purchase money, to the officer conducting the sale; and, in default of such
deposit, the property shall forthwith be resold.
The full amount of purchase money payable shall be paid by the purchaser to the Tax Recovery
Officer on or before the fifteenth day from the date of the sale of the property.
58. Procedure in default of payment.—In default of payment within the period mentioned in the
preceding rule, the deposit may, if the Tax Recovery Officer thinks fit, after defraying the expenses of the
sale, be forfeited to the Government, and the property shall be resold, and the defaulting purchaser shall
forfeit all claims to the property or to any part of the sum for which it may subsequently be sold.
2[59. Authority to bid.—
Where the sale of a property, for which a reserve price has been
specified under clause
of rule 53, has been postponed for want of a bid of an amount not less than
such reserve price, it shall be lawful for an 3[Assessing Officer], if so authorised by the 4[ 5[Principal
Chief Commissioner or Chief Commissioner] or 6[Principal Commissioner or Commissioner]] in this
behalf, to bid for the property on behalf of the Central Government at any subsequent sale.]
7[