(2)[ The provisions of sub-section (1) shall not apply to cases where the duty or interest had become payable or ought to have been paid before the date on which the Finance Bill, 2001 receives the assent of the President.] [Substituted by Act 14 of 2001, Section 105, for sub-Section (1) (w.e.f. 11.5.2001). ][Explanation 1.-Where the duty determined to be payable is reduced by the Commissioner (Appeals), the Appellate Tribunal [, National Tax Tribunal] [Inserted by Act 33 of 1996, Section 62 (w.e.f. 28.9.1996). ] [or, as the case may be, the Court, the interest shall be payable on such reduced amount of duty.Explanation 2.-Where the duty determined to be payable is increased or further increased by the Commissioner (Appeals), the Appellate Tribunal [, National Tax Tribunal] [Inserted by Act 33 of 1996, Section 62 (w.e.f. 28.9.1996). ] [or, as the case may be, the Court, the interest shall be payable on such increased or further increased amount of duty.] [Inserted by Act 33 of 1996, Section 62 (w.e.f. 28.9.1996). ]
