https://www.taxtmi.com/caselaws?id=327992 The Tribunal upheld the lower authorities' decision to calculate interest under section 234B(1) for a re-assessment under section 147, treating it as the first assessment. The re-assessment was considered a regular assessment as there was no prior scrutiny assessment under section 143(3), making section 234B(1) applicable. The Tribunal also ruled that the issue raised by the assessee for rectification under section 154 was not a rectifiable mistake as it was debatable and required extensive reasoning. The appeal was dismissed, affirming the correct interest calculation under section 234B(1). en-us Fri, 20 May 2016 00:00:00 +0530 Tue, 24 May 2016 10:31:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327992 The Tribunal upheld the lower authorities' decision to calculate interest under section 234B(1) for a re-assessment under section 147, treating it as the first assessment. The re-assessment was considered a regular assessment as there was no prior scrutiny assessment under section 143(3), making section 234B(1) applicable. The Tribunal also ruled that the issue raised by the assessee for rectification under section 154 was not a rectifiable mistake as it was debatable and required extensive reasoning. The appeal was dismissed, affirming the correct interest calculation under section 234B(1). Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327992