(3)[ Without prejudice to the provisions contained in sub-section (2), on an application made by the assessee before the expiry of the due date under sub¬section (1), the ] [Substituted by Act 46 of 1964, Section 28, for Section 31 (w.e.f. 1.4.1965). ][Assessing Officer] [ Substituted by Act 4 of 1988, Section 127, for " Wealth-tax Officer" (w.e.f. 1.4.1988).][may extend the time for payment or allow payment by instalments, subject to such conditions as he may think fit to impose in the circumstances of the case.
