https://www.taxtmi.com/caselaws?id=151673 Interest under sections 234A and 234B must be computed on assessed tax after reducing tax deducted at source from the start of the interest period, because the statutory scheme does not permit deferring TDS credit until the payer's actual deduction date. The Tribunal noted that interest was otherwise chargeable, but the dispute concerned only the timing of TDS adjustment in the calculation. Since the income was taxable for the relevant years and TDS was ultimately deducted, the reduction had to operate for the full period for which interest was charged. The lower authorities' approach was therefore incorrect to the extent it postponed TDS relief, and the appeals were allowed. en-us Mon, 31 May 2010 00:00:00 +0530 Tue, 11 Jun 2013 16:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151673 Interest under sections 234A and 234B must be computed on assessed tax after reducing tax deducted at source from the start of the interest period, because the statutory scheme does not permit deferring TDS credit until the payer's actual deduction date. The Tribunal noted that interest was otherwise chargeable, but the dispute concerned only the timing of TDS adjustment in the calculation. Since the income was taxable for the relevant years and TDS was ultimately deducted, the reduction had to operate for the full period for which interest was charged. The lower authorities' approach was therefore incorrect to the extent it postponed TDS relief, and the appeals were allowed. Case-Laws Income Tax Mon, 31 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151673