Amendment of section 34A

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....order of fresh assessment is directed to be made, the refund, if any, shall become due only on the making of such fresh assessment; (b) the assessment is annulled, the refund shall become due only of the amount, if any, of the tax paid in excess of the tax chargeable on the total income returned by the assessee."; (ii) after sub-section (4), the following sub-sections shall be inserted, namely....

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.... the date on and from which the amount of tax or penalty specified in the notice of demand issued under section 30 is paid in excess of such demand. (b) If the proceedings resulting in the refund are delayed for reasons attributable to the assessee. whether wholly or in part, period of the delay so attributable to him shall be excluded from the period for which interest is payable and where any ....