Amendment of Section 139

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..... substituted, namely :- "Provided that, on an application made in the prescribed manner, the Income-tax 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)."; (c) for sub-section (4A), the following sub-section shall be substituted .....

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..... be prescribed and all the provisions of this Act shall, so far as may be, apply as if it were a return required to be furnished under sub-section (1)."; (d) in sub-section (8)(a), - (i) for the portion beginning with the words, brackets and figure "Where the return under sub-section (1)" and ending with the words "waive the interest payable by any person under this sub-sec .....

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..... Provided 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 assessee under this sub-section. Explanation 1 : For the purposes of this sub-section, "specified date", in relation to a return for an assessment year, means, - (a) in the case of every assessee whose total income, or the total incom .....

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