was a capital outlay. Therefore, no part of the capital outlay can be set off as expenditure against income from the asset in question. 12. A Division Bench of the Bombay High Court, in the case of American Express International Banking Corporation2, dealt with the decision in the case of Vijaya Bank Ltd1. We are extensively referring to the decision of the Bombay High Court in the case of American Express International Banking Corporation2 for the reason that this Court in Citi Bank NA3 has expressly approved the view of the Bombay High Court in the said decision. We may note that the Bombay High Court dealt with assessment years 1974­75 to 1977­78. This was a case where the assessee made adjustments for broken period interest. The assessing officer had disallowed the deduction for the payment made by the Civil Appeal No.3291­3294 of 2009, etc. Page 15 of 45assessee for broken period interest. The assessing officer followed the decision in the case of Vijaya Bank Ltd1. The Bombay