High Court  held that since assessee-bank purchased securities to hold them as stock-in-trade and claimed deduction of broken period interest paid on purchase of securities, interest paid on such securities would be an allowable deduction. Following the decision in Bank of Rajasthan Ltd. v. CIT [2024] 301 Taxman 463/469 ITR 280 (SC), SLP filed by revenue  was dismissed. (AY. 1997-98)