https://www.taxtmi.com/caselaws?id=16558 The court upheld the view that tax deductible at source should be deducted before calculating interest, giving credit for tax deducted at source when computing interest u/s 215. It was affirmed that interest should be charged after giving credit for tax deducted at source, even if paid in the next year. The court also held that the tax deductible at source, not the tax actually deducted, should be considered for interest calculation. Ultimately, the court ruled in favor of the assessee, reducing the assessed tax by the tax deductible at source and calculating interest accordingly under section 215. en-us Tue, 31 Mar 1998 00:00:00 +0530 Tue, 08 Sep 2009 15:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16558 The court upheld the view that tax deductible at source should be deducted before calculating interest, giving credit for tax deducted at source when computing interest u/s 215. It was affirmed that interest should be charged after giving credit for tax deducted at source, even if paid in the next year. The court also held that the tax deductible at source, not the tax actually deducted, should be considered for interest calculation. Ultimately, the court ruled in favor of the assessee, reducing the assessed tax by the tax deductible at source and calculating interest accordingly under section 215. Case-Laws Income Tax Tue, 31 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16558