Amendment of section 411.

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....ied under sub-section (1),-- (i) the assessee shall be liable to pay simple interest at 1% for every month or part of a month comprised in the period; and (ii) such period shall commence from the day immediately following the end of the period mentioned in sub-section (1) and end with the day on which the amount is paid. (b) No interest shall be charged under this sub-se....

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....ault and become liable to interest under sub-section (3) of section 289, along with possible recovery proceedings such as attachment of property. The Assessing Officer may, however, allow payment by instalments or extend the time for payment, subject to conditions, to provide relief in genuine cases. It is proposed to consequentially amend the sub-section (3) of the said section so as to provid....