(2) The amount of interest calculated under sub-rule (1) as reduced by the amount of such interest, if any, paid by the assessee before the issue of the certificate shall be indicated in the certificate issued by the Assessing Officer.
(3) The amount of interest referred to in sub-rule (2) and the further interest similarly calculated for the period commencing immediately after the date of the issue of the certificate, shall be recoverable from the defaulter along with the amount of tax, penalty or other sum mentioned in the certificate.
Extra Notes for Readers:
- Rule 119 was introduced by the Income Tax (11th Amendment) Rules, 1989, w.e.f. 30th Nov. 1989
Reference/Source: Check at Income Tax site for latest version of the Rules - link