Questions and postings pertaining to the usage of ImageMagick regardless of the interface. This includes the command-line utilities, as well as the C and C++ APIs. Usage questions are like "How do I use ImageMagick to create drop shadows?".
The difference is that PS interprets the PNG transparency as Background transparency. But it interprets the TGA transparency as an alpha channel. If you look at the channels in both images in PS you will see that both have transparency, just different kinds. I suspect that TGA does not support background transparency, but does support alpha channel transparency. However, I am no expert on either PS or TGA format.
Honestly though, I don't really get the difference between alpha channel and transparency here. In both PNG and TGA there's only one one alpha channel - it's just RGBA color space after all. Why does Photoshop interpret them differently? I have no idea.
I guess alpha channel (as opposed to transparency) makes sense in more complex formats, where there can be many of them.