(3)[ Where as a result of an order under section 147 or section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264 ] [Substituted by Act 67 of 1984, Section 36, for sub-Section (3) (w.e.f. 1.4.1985).][or an order of the Settlement Commission under sub-section (4) of section 245-D] [ Inserted by Act 4 of 1988, Section 83 (w.e.f. 1.4.1989).] [, the amount on which interest was payable under sub-section (1) has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and-(i)in a case where the interest is increased, the ] [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).] [shall serve on the assessee, a notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly; [Substituted by Act 67 of 1984, Section 36, for sub-Section (3) (w.e.f. 1.4.1985).](ii)in a case where the interest is reduced, the excess interest paid, if any, shall be refunded.]
