Section 40

Tax1959309 of 312 sections available

Statutory text

(1) Where immovable property has been sold under this Code, any person, either owning such property or holding an interest therein by virtue of a title acquired before such sale may, at any time within thirty days from the date of sale, apply to the Revenue Officer to have the sale set aside on his depositing— (a) for payment to the purchaser, a sum equal to five per cent of the purchase money; (b) for payment on account of the arrear, the amount specified in the proclamation of sale as that for the recovery of which the sale was ordered less any amount which may have been paid since the date of the sale on that account; and (c) the cost of the sale. (2) If such deposit is made within thirty days from the date of the sale the Revenue Officer shall pass an order setting aside the sale: Provided that, if a person applies under rule 41 to have such sale set aside, he shall not be entitled to make an application under this rule.

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