Amendment of section 139

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....Officer may, in his discretion, extend the date for furnishing the return, and, notwithstanding that the date is so extended, interest shall be chargeable in accordance with the provisions of sub-section (8)."; (b) sub-section (1A) shall be omitted; (c) in sub-section (2), for the proviso, the following proviso shall be substituted, namely:- "Provided that, on an application made in the pres....

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....hall apply in every such case", the words, brackets and figure "and the provisions of sub-section (8) shall apply in every such case" shall be substituted; (f) for sub-section (8), the following sub-section shall be substituted, namely:- "(8) (a) Where the return under sub-section (1) or sub-section (2) or sub-section (4) for an assessment year is furnished after the 30th day of September of t....

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....y of December of the year immediately preceding the assessment year, such interest shall be reckoned from the 1st day of January instead of the 1st day of October of the assessment year: Provided further that the Income-tax Officer may, in such cases and under such circumstances as may be prescribed, reduce or waive the interest payable by any person under this sub-section. Explanation. For th....