https://www.taxtmi.com/caselaws?id=121014 The Tribunal dismissed the assessee's appeal, upholding the CIT(A)'s decision and affirming the Assessing Officer's rectification under section 154 of the Income-tax Act, 1961. The Tribunal determined that the correct application of interest under section 234B(1) was applicable in this case of reassessment under section 147, rejecting the assessee's argument for the application of section 234B(3). The decision emphasized the clarity of the law and supported the Assessing Officer's rectification as justified, based on relevant case law. en-us Tue, 21 Aug 2007 00:00:00 +0530 Thu, 26 Jul 2012 10:32:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121014 The Tribunal dismissed the assessee's appeal, upholding the CIT(A)'s decision and affirming the Assessing Officer's rectification under section 154 of the Income-tax Act, 1961. The Tribunal determined that the correct application of interest under section 234B(1) was applicable in this case of reassessment under section 147, rejecting the assessee's argument for the application of section 234B(3). The decision emphasized the clarity of the law and supported the Assessing Officer's rectification as justified, based on relevant case law. Case-Laws Income Tax Tue, 21 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121014