leave petitions filed by the revenue, one of which was dismissed by a three Judge Bench. After going through the facts which are similar to the facts in American Express (supra), since the tax effect is neutral, the method of computation adopted by the assessee and accepted by the revenue cannot be interfered with. We agree with the view expressed by the Bombay High Court in American Express (supra) that on the facts of the present case, the judgment in Vijaya Bank Ltd. (supra) would have no application.” Thus, this Court approved the view taken by the Bombay High Court that the interest paid for the broken period should not be considered as part of the purchase price, but it should be allowed as revenue expenditure in the year of purchase of securities. This Court has reiterated the view taken by the Bombay High Court in the case of American Express International Banking Corporation2. Civil Appeal No.3291­3294 of 2009, etc. Page 22 of 45WHETHER SECURITIES ARE HELD AS STOCK­IN­TRADE