Property could not be the subject matter of auction in a recovery proceeding under Income Tax Act, 1961.

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..... came into operation with effect from 17th February, 1976 has created certain doubts in the minds of the Tax Recovery Officers, with regard to the auction of the attached immovable properties and confirmation of sale of properties sold already as per provisions of Second Schedule to the Income-tax Act, 1961. 2. The matter has been examined in consultation with the Ministry of Law. The Board are ad .....

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..... possession of the relevant property should be handed over to the auction purchaser before the notification vesting the property in the State Government under section 10(3) of the Urban Land Ceiling Act is issued. Once the notification is issued under the said section, the land would be vested in the State Government and in consequence of this vesting, it would cease to be the property of the owner .....

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