Determination of interest.
50. (1) Where the Commissioner is satisfied that the dealer is liable to pay interest under section 33, section 34 or section 34A, he shall, in such manner as may be prescribed, determine the amount of interest payable by such dealer.
(2) If on such determination, any additional amount of interest is found to be payable by the dealer or any excess amount of interest is found to be refundable to the dealer, the Commissioner shall issue a notice, in the prescribed manner, to such dealer directing him to pay such additional amount or informing him of the excess amount paid, as the case may be.
(3) No determination of interest under sub-section (1) in respect of interest payable under section 33 shall be made after the date of assessment under section 45, 46 or section 48, as the case may be, in respect of the period for which interest is determined.
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