https://www.taxtmi.com/caselaws?id=211631 The court ruled in favor of the assessee, holding that interest for non-payment or short payment of advance tax in re-assessments under section 153A should be governed by section 234B(3) of the Income-tax Act, not section 234B(1) as contended by the Revenue. The court emphasized the distinction between regular assessments under section 143(1) and re-assessments under section 153A, clarifying that interest provisions differ based on the nature of the assessment. The Tribunal's decision was upheld, dismissing the Revenue's appeals and affirming the application of section 234B(3) for interest in re-assessments. en-us Thu, 20 Jan 2011 00:00:00 +0530 Wed, 28 Mar 2012 08:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211631 The court ruled in favor of the assessee, holding that interest for non-payment or short payment of advance tax in re-assessments under section 153A should be governed by section 234B(3) of the Income-tax Act, not section 234B(1) as contended by the Revenue. The court emphasized the distinction between regular assessments under section 143(1) and re-assessments under section 153A, clarifying that interest provisions differ based on the nature of the assessment. The Tribunal's decision was upheld, dismissing the Revenue's appeals and affirming the application of section 234B(3) for interest in re-assessments. Case-Laws Income Tax Thu, 20 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211631