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

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..... ctions 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 apparent consideration, if he considers it a fit case for such .....

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..... under Chapter XXC would be defeated if we have to sell the properties at a rate lower than that visualised at the time of purchase. 4. The question of increasing the reserve price by 1% for each month of delay in auction has also been considered. It is likely that such monthly enhancement may sometimes push the price up to an unrealistically high figure may render the property unsaleable. To avoi .....

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