I am in computer science (theory). Suppose, I submit a research paper to a tier-1 conference, and it gets rejected due to some issues in it. After doing correction, is it possible that I can submit it to a tier-1 conference again? Is there any rule or similar like: If my research paper gets rejected in any top conference, then I cannot submit the result in any top conference?
It is exceedingly common to get rejected at a top venue, improve the paper, submit to the same or a different top venue again, and get accepted. No conference or community that I am aware of has rules in place that would disallow this, or even any mechanisms to track it. To be frank, PC members don't know nor care if you already submitted your paper before to a similar conference and were rejected. They will look at your paper as it is now, and decide.
There is, however, one small caveat: if you keep submitting the same paper without changes to conferences with similar PC, people may get miffed that you are ignoring their comments. I have seen in PC discussions come up that reviewers were complaining that they received the same paper two or three times, without fixing even the typos in the manuscript. While it is still true that even in that case the paper should strictly speaking be reviewed "as-is", without taking the history into account, it is only natural that this kind of behavior leads to PC members not looking overly kindly on your manuscript.