You should go to Macworld.com and read their
recent TimeMachine article. Time Machine's purpose is to let you restore any file, because you deleted it or made a change to it that's undesired. So, no, deleting a file does not delete it from Time Machine -- that would defeat the whole purpose of it
🙂 Deleting a file, of course, means it won't be backed up in future Time Machines operations. But you can go "back in time" to restore it from when it existed. This restoration restores just the file(s) you select and replaces any current versions with the ones plucked from Time Machine. Of course, the ones replaced are also stored in Time Machine's history and could be restored themselves. See?
🙂
An example: Somehow (don't know how) several original photos in my iPhoto library vanished. The thumbnails were still there, but the original photos had disappeared. So I located the folder on my computer where the originals should have been, activated Time Machine, traveled back a few weeks until I saw them appear in the Time Machine folders, and restored them. They instantly reappeared in iPhoto as well, and all was good.