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“Section 34(3)(b)”

Section References (mined)Section 34Section 34(3)(b)2 judgments

The decision most relied on for Section 34(3)(b) is LIC of India v. CIT (51 ITR 773), cited in 64 judgments on BharatTax.

Leading authorities on Section 34(3)(b)

LIC of India v. CIT
51 ITR 773 · 1964 · Supreme Court
64
citing judgments

The assessment of profits for an insurance business is exclusively governed by the specific rules prescribed in the First Schedule to the Income Tax Act and Section 44, thereby precluding the Assessing Officer from applying general computation provisions, such as sections 28 to 43B, disallowances under Section 14A, or making adjustments outside these specific statutory rules.

CIT v. Hughes Escorts Communications Ltd.
311 ITR 253 · 2009 · High Court
29
citing judgments

Expenses incurred prior to business commencement but after business setup are deductible as revenue expenses, as the setting up and commencement dates of a business are not necessarily the same.

309)(Kar) (b) Electronics Corporation of India Ltd. v. ACIT
28 Taxmann.com 280 · 2012 · High Court
27
citing judgments

Expenditure approved by the DSIR in Form 3CL alone qualifies for weighted deduction under Section 35(2AB). The DSIR's decision on the correctness of expenditure under this section is final.

Judgments citing Section 34(3)(b)

Assistant Commissioner of Income Tax, Chennai vs. Manikandan, Chennai

ITA 2986/CHNY/2025[2017-18]Status: DisposedITAT Chennai16 Feb 2026AY 2017-18

Bench: Shri Aby T. Varkey & Ms. Padmavathy.Sआयकर अपील सं./Ita No.2986/Chny/2025 निर्धारण वर्ष /Assessment Year: 2017-18 The Asst. Commissioner Of Income Tax, Non Corporate Circle-4(1), Chennai. Manikandan, Vs. No.15/16/17, Vision Towers, 2Nd Floor, Yogam Garden, Valasarvakkam, Chennai - 600 087. Pan: Behpm 6583A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से / Assessee By प्रत्यर्थी की ओर से /Revenue By Mr. R. Sivaraman, Advocate Ms. R. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing घोषणा की तारीख /Date Of Pronouncement 11.02.2026 16.02.2026 Per Padmavathy.S, A.M: आदेश / Order This Appeal By The Revenue Is Against The Order Of The Commissioner Of Income Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi, (In Short "Cit(A)") Passed U/S. 250 Of The Income Tax Act, 1961 (In Short "The Act") Dated 26.08.2025 For Assessment Year (Ay) 2017-18. The Assessee Raised The Following Ground Of Appeal: “1. The Order Of The Ld Cit(A) Is Contrary To Law & Facts & Circumstances Of The Case. 2 The Ld Cit(A) Erred In Deleting The Addition Made By The Ao Of An Amount Of Rs.2,98,29,315/- Credited In Assessee'S Capital Account By M/S Crcl Llp, In Which Assessee Is A Partner, For Sacrificing / Relinquishing - 2 -:

Section 147Section 2Section 2(14)Section 2(47)Section 250Section 45Section 45(3)

आयकर अपीलीय अधिकरण, 'सी' न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL 'C' BENCH: CHENΝΑΙ श्री एबी टी. वर्की, न्यायिक

Gokulakrishna, Chennai vs. Deputy Commissioner of Income Tax, Non Corporate Circle 8(1), Chennai

In the result, the appeal filed by the assessee is allowed and the stay

ITA 1088/CHNY/2025[2017-18]Status: DisposedITAT Chennai17 Jun 2025AY 2017-18

Bench: Shri George George Kand Shri Jagadish

For Appellant: yeast Ft az A/For Respondent: arare 41 aréra/
Section 147Section 250

IN THE INCOME TAX APPELLATE TRIBUNAL‘C’ BENCH, CHENNAI Mute aitel &, soreser ud Mt onder car wars & waar BEFORE SHRI