https://www.taxtmi.com/caselaws?id=434826 ITAT held that tax deducted at source on gross interest may be allowed as a deduction when computing income available for application under section 11, since only the net amount remained available to the assessee for application or accumulation. If TDS is later refunded, that refund should be treated as income in the subsequent year. The tribunal overturned the lower authorities' refusal to allow deduction of TDS pro tanto and allowed the appeal. en-us Thu, 02 Mar 2023 00:00:00 +0530 Mon, 06 Oct 2025 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434826 ITAT held that tax deducted at source on gross interest may be allowed as a deduction when computing income available for application under section 11, since only the net amount remained available to the assessee for application or accumulation. If TDS is later refunded, that refund should be treated as income in the subsequent year. The tribunal overturned the lower authorities' refusal to allow deduction of TDS pro tanto and allowed the appeal. Case-Laws Income Tax Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434826