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2009 (5) TMI 562 - AT - Income TaxAddition of income – Waiver of interest - It was submitted that in the returns where assessee did claim interest were' treated as non est returns. - when the return has been treated as defective by the AO and despite giving an opportunity the assessee has not rectified the defect, the return shall be treated as an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the return. - the authorities below had treated such invalid returns as having the effect of meaning that assessee has been allowed the interest claim. In our opinion, this view is not sustainable. It is settled law that when the language of the Act is plain and unambiguous, no interpolation therein is called for - High Court in the case of CIT vs. Ancherry Pavoo Kakku (1985 -TMI - 26598 - KERALA High Court) and Hon'ble apex Court decision in Saraswati Industrial Syndicate Ltd. vs. CIT (1990 -TMI - 5304 - SUPREME Court)clearly accentuates that unless an allowance or deduction has been made as per IT Act and records, the same will not come under the sweep of s. 41(1) Interest - The provisions of s. 234D are substantive and these provisions will have application only w.e.f. asst. yr. 2004-05 - Adhering to the doctrine of stare decisis – Appeal is partly allowed
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