Adjustment  of any payment

37.    Payment made by a person towards the amount, due as a result of any order passed under this Act, shall first be adjusted, except in so far as the recovery of the said amount or part thereof is stayed under the provisions of this Act, against the interest payable by him on the date of payment and thereafter towards the amounts due as a penalty. Any amount remaining unadjusted, shall be adjusted towards the tax payable.