53. Substituted by the Finance Act, 2001, w.e.f. 1-4-2002. Prior to its substitution, Explanation 1A, as inserted by the Finance Act, 2000, w.e.f. 1-4-2001, read as under :

      ‘Explanation 1A.—For the purposes of this sub-clause, the expression “interest” shall not include interest paid on delayed payment of loan or on default.’