Held that on a conjoint reading of the Notes on Clauses and the Memorandum Explaining the Provisions of the Finance Bill, 1999 (see [1999] 236 ITR (St.) 141 and 187), it is clear that by virtue of the amendment, the Legislature proposed to make assessees filing returns under section 158BC also liable to pay tax and interest under section 140A. The Memorandum further makes it clear that the existing provisions of section 140A were not applicable to Chapter XIV-B relating to assessment of income of the block period in search and seizure cases. It further recognises that the admitted tax declared in the return cannot be collected till the assessment is completed. Therefore, the Legislature intended to amend section 140A by incorporating section 158BC so as to make persons filing returns under section 158BC also liable. Thus, by virtue of the amendment, a new class of assessees whose income was subject to be assessed under Chapter XIV-B, were brought in section 140A compelling them to pay self-assessment tax. Thus, the interest under section 158BFA is leviable on standalone basis for late or non-filing of return, which ceases on the day return is filed.  That KI Ltd. and KB Ltd., the persons searched, were issued notice under section 158BC and in the case of KLS, the “other person”, notice under section 158BD had been issued. Therefore, the assessees’ submission that in the absence of any notice under section 158BC served upon the assessee-persons other than searched persons-for the period prior to the amendment in section 158BD by the Finance Act, 2002, there shall not be any liability to pay interest under section 158BFA, was not tenable. The levy of interest under section 158BFA(1) of the Act for late filing of the return for the block period for the period prior to June 1, 1999 was proper. (AY.BP. 1-4-1986 to 13-2-1997)