Ltd.1, the claim for deduction of interest on broken period was made under Sections 19 and 20 of the IT Act. This was done on the footing that the Department had brought to tax the interest accrued on the securities up to the date of purchase as “interest on securities” under Section 18. It was held that the decision in the case of Vijaya Bank Ltd.1 will not apply to the cases post­repeal of Sections 18 to 21 of the IT Act. In the said case, the amount of interest was brought into tax under Section 28. b. The learned counsel appearing for the assessees pointed out that the view taken by the Bombay High Court in 2 (2002) 258 ITR 601 (Bombay) : 2002 SCC OnLine Bom 944 Civil Appeal No.3291­3294 of 2009, etc. Page 6 of 45the case of American Express International Banking Corporation2 has been approved by the order dated 12th August 2008 of this Court in the case of Commissioner of Income Tax, Bombay v. Citi Bank NA3. The learned counsel pointed out that this Court affirmed the decision of