https://www.taxtmi.com/caselaws?id=212705 For interest under sections 234B and 234C, advance tax liability must be reduced by the tax deductible at source under Chapter XVII because these provisions address failure to pay or deferment of advance tax; the assessee is not treated as in default to that extent. For section 234A, the computation is narrower and allows exclusion only of tax actually deducted or collected at source, not tax merely deductible. The interest computation was therefore required to be recomputed on that basis, with partial relief to the assessee. en-us Wed, 18 Jan 2012 00:00:00 +0530 Fri, 13 Apr 2012 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212705 For interest under sections 234B and 234C, advance tax liability must be reduced by the tax deductible at source under Chapter XVII because these provisions address failure to pay or deferment of advance tax; the assessee is not treated as in default to that extent. For section 234A, the computation is narrower and allows exclusion only of tax actually deducted or collected at source, not tax merely deductible. The interest computation was therefore required to be recomputed on that basis, with partial relief to the assessee. Case-Laws Income Tax Wed, 18 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212705