Interest waiver threshold revised; tax officers to refer only substantial waiver cases to higher authority under Rule 40. The Board amends prior guidance so Income Tax Officers are to refer to the I.A.C.s only cases where the amount of interest to be reduced or waived exceeds Rs.1,000, substituting that phrase for the earlier wording in paragraph 3 of Instruction No.1101 and limiting referrals under sub rules 1 to 4 of Rule 40 to matters above that threshold.