However, the Commissioner of Income Tax (for short, ‘CIT’) exercised jurisdiction under Section 263 of the IT Act and interfered with the assessment orders. The CIT held that the appellant was not entitled to the deduction of the Civil Appeal No.3291­3294 of 2009, etc. Page 4 of 45interest paid by it for the broken period. The Commissioner relied upon a decision of this Court in the case of Vijaya Bank Ltd. v. Additional Commissioner of Income Tax, Bangalore1. This Court held that under the head “interest on securities”, the interest for a broken period was not an allowable deduction. Being aggrieved by the orders of the CIT, the appellant preferred an appeal before the Income Tax Appellate Tribunal (for short, ‘Appellate Tribunal’). The Tribunal allowed the appeal by holding that the decision of this Court in the case of Vijaya Bank Ltd.1 was rendered after considering Sections 18 to 21 of the IT Act, which have been repealed. Therefore, the Tribunal held that as the appellant was