(1A)(a)Where in the case of any person, the taxable gift, as a result of the adjustments made under the first proviso to clause (a) of sub-section (1), exceeds the taxable gift declared in the return by any amount, the Assessing Officer shall,--(i)further increase the amount of tax payable under sub-section (1) by an additional gift-tax calculated at the rate of twenty per cent, of the tax payable on such excess amount and specify the additional gift-tax in the intimation to be sent under sub-clause (i) of clause (a) of sub-section (1);(ii)where any result is due under sub-section (1), reduce the amount of such refund by an amount equivalent to the additional gift-tax calculated under sub-clause (i).(b)Where as a result of an order under section 22 or section 23 or section 24 or section 26 or section 28 or section 34, the amount on which additional gift-tax is payable under clause (a) has been increased or reduced, as the case may be, the additional gift-tax shall be increased or reduced accordingly, and,--(i)in a case where the additional gift-tax is increased, the Assessing Officer shall serve on the assessee a notice of demand under section 31;(ii)in a case where the additional gift-tax is reduced, the excess amount paid, if any, shall be refunded.Explanation.--For the purposes of this sub-section, "tax payable on such excess amount" means the difference between the tax on the taxable gift and the tax that would have been chargeable had such faxable gift been reduced by the amount of adjustments.
