https://www.taxtmi.com/caselaws?id=56320 The Tribunal held that 'assessed tax' under section 215 should be the tax finally assessed reduced by the amount of tax deductible. It emphasized that credit for Tax Deducted at Source (TDS) should be considered in the computation of interest income. The Tribunal set aside the CIT(A)'s decision and directed the Income Tax Officer to give credit for TDS in the interest income calculation. As a result, the appeal partially succeeded, and the Tribunal ruled in favor of the assessee on this issue. en-us Tue, 07 Jun 1988 00:00:00 +0530 Fri, 03 Dec 2010 10:35:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56320 The Tribunal held that 'assessed tax' under section 215 should be the tax finally assessed reduced by the amount of tax deductible. It emphasized that credit for Tax Deducted at Source (TDS) should be considered in the computation of interest income. The Tribunal set aside the CIT(A)'s decision and directed the Income Tax Officer to give credit for TDS in the interest income calculation. As a result, the appeal partially succeeded, and the Tribunal ruled in favor of the assessee on this issue. Case-Laws Income Tax Tue, 07 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56320