(1) The deputy commissioner shall order the refund and payment to the purchaser, of-
(a) the amounts deposited by him under section 71; and
(b) the sum equal to 5 per cent. of the purchase money deposited under clause (b) of section 73;
if the sale is not confirmed or is set aside.
(2) The deputy commissioner shall order the refund and payment of all monies deposited under clause (b) of section 73 to the person who made the deposit, if the sale is confirmed:
Provided that the deputy commissioner may set off the whole or any part of any such monies against any arrear of land revenue or any other amount recoverable as an arrear of land revenue, which may be outstanding against the person who made the deposit.