31. Refund Adjustment Order.—

If the applicant desires payment by adjustment against an amount payable by him, the Commissioner shall make out a Refund Adjustment Order in Form 17 authorising the applicant to adjust the sum to be refunded against any amount payable by him in respect of the period for which a return is to be furnished under rule 12 and during which the refund is sanctioned or any subsequent period, or payable under any notice under sub-section (4) of section 18.