https://www.taxtmi.com/caselaws?id=22121 The court held that tax deductible at source and deducted within the financial year under sections 194 and 195 must be considered in computing the "assessed tax" under section 215(5). The court found that the Income-tax Officer correctly computed the penalty after allowing credit for the tax deducted at source, thus answering the second question in the negative. The Tribunal's direction to recompute the penalty was deemed unnecessary. No order was made as to costs. en-us Wed, 19 Dec 1990 00:00:00 +0530 Mon, 07 Dec 2009 12:05:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22121 The court held that tax deductible at source and deducted within the financial year under sections 194 and 195 must be considered in computing the "assessed tax" under section 215(5). The court found that the Income-tax Officer correctly computed the penalty after allowing credit for the tax deducted at source, thus answering the second question in the negative. The Tribunal's direction to recompute the penalty was deemed unnecessary. No order was made as to costs. Case-Laws Income Tax Wed, 19 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22121