Department to calculate 20% as per assessment order before giving effect to TDS/TCS

Orion Security Solutions P. Ltd. Vs DCIT (Delhi High Court) Headnote: TDS and TCS have to be adjusted against the amount arrived at by applying the rate of 20% against the tax crystalized as per the assessment order. Facts in brief: 1. The Assessee had filed its return of income for the assessment year 2021-22 declaring a taxable income of Rs.1,04,06,610/-. The Assessing Officer (hereafter ‘the AO’) made an addition of Rs.146,72,96,789/- by way of an order passed u/s. 143(3) of the Income Tax Act, 1961 (hereafter ‘the Act’) on December 19, 2022, raising a tax demand of Rs.44,10,05,569...