Income Tax Act, 1961
Sch. II Part I Rule 14. DEFAULTING PURCHASER ANSWERABLE FOR LOSS ON RESALE.
Any deficiency of price which may happen on a resale by reason of the purchaser’s default, and all expenses attending such resale, shall be certified to
the Tax Recovery Officer by the officer holding the sale, and shall, at the instance of either the Tax Recovery Officer or the defaulter, be recoverable from the defaulting purchaser under the procedure provided by this Schedule :
Provided that no such application shall be entertained unless filed within fifteen days from the date of resale.