It's happening to the OP because of the edge topology of his geometry. Depending on the actual surface, rearranging edge flow at the corner should help prevent issues like that.
However edge topology shouldn't have any kind of pinching effect in such a simple geometry, yet it does (a similiar thing happens while extruding a face loop around a sharp angle, the distance of extrusion is calculated along the edge and not the actual surface, which causes irregularities on the actual extruded distance).
It's way overdue for Autodesk to fix the most basic polygon modeling tools.