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![8% Profit Estimation on Deposits in Undisclosed Bank Accounts Arbitrary for Electronics Trading Business: ITAT Restricts Addition by Applying 3% Net Profit Rate [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140734-undisclosed-bank-deposits-profit-estimation-itat.webp "8% Profit Estimation on Deposits in Undisclosed Bank Accounts Arbitrary for Electronics Trading Business: ITAT Restricts Addition by Applying 3% Net Profit Rate [Read Order]")
8% Profit Estimation on Deposits in Undisclosed Bank Accounts Arbitrary for Electronics Trading Business: ITAT Restricts Addition by Applying 3% Net Profit Rate [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ranchi Bench has held that an 8% profit estimation on deposits made in undisclosed bank accounts of an...
![NRIs NRE Account Credits Linked to Overseas Earnings Cannot Be Taxed as Unexplained Money: ITAT Deletes ₹5.52 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140751-itat-ruling-on-nre-account-credits-by-taxscan.webp "NRIs NRE Account Credits Linked to Overseas Earnings Cannot Be Taxed as Unexplained Money: ITAT Deletes ₹5.52 Lakh Addition [Read Order]")
![Commercial Label in Sale Deed Not Conclusive for Denying Capital Gains Exemption on Residential Property: ITAT Grants Relief on ₹88.41 Lakh Claim [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140736-itat-grants-capital-gains-relief-issuance-by-taxscan.webp "Commercial Label in Sale Deed Not Conclusive for Denying Capital Gains Exemption on Residential Property: ITAT Grants Relief on ₹88.41 Lakh Claim [Read Order]")
![TP Order Issued Without Digital Signature or Authentication Invalid in Law: ITAT Quashes ₹85 Crore Transfer Pricing Adjustment [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140731-itat-ruling-on-digitally-unsigned-tp-order-by-taxscan.webp "TP Order Issued Without Digital Signature or Authentication Invalid in Law: ITAT Quashes ₹85 Crore Transfer Pricing Adjustment [Read Order]")
![Opening Cash Balance Cannot Be Treated as Unexplained Solely Due to Nil Disclosure in Earlier ITR: ITAT Deletes ₹10.98 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140730-opening-cash-balance-cannot-be-treated-as-unexplained-itat.webp "Opening Cash Balance Cannot Be Treated as Unexplained Solely Due to Nil Disclosure in Earlier ITR: ITAT Deletes ₹10.98 Lakh Addition [Read Order]")
![‘Appears to Be an Attempt to Evade or Defer Tax Payment’: Madras HC Rejects Challenge to GST Assessment Order [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140694-attempt-to-evade-tax-payment-gst-assessment-order-taxscan.webp "‘Appears to Be an Attempt to Evade or Defer Tax Payment’: Madras HC Rejects Challenge to GST Assessment Order [Read Order]")
8% Profit Estimation on Deposits in Undisclosed Bank Accounts Arbitrary for Electronics Trading Business: ITAT Restricts Addition by Applying 3% Net Profit Rate [Read Order]
ITAT held that arbitrary profit estimation on undisclosed bank deposits must reflect business realities and reasonable margins.
![Foreign Outbound Tour Packages Outside Service Tax Net Under Finance Act, 1994: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140666-foreign-outbound-tour-packages-service-tax-net-cestat-taxscan.webp "Foreign Outbound Tour Packages Outside Service Tax Net Under Finance Act, 1994: CESTAT [Read Order]")
![Service Tax not Leviable as Manpower Supply Service in absence of Consideration for Services: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/11/2139959-service-tax-manpower-supply-service-consideration-services-cestat-chennai-taxscan.webp "Service Tax not Leviable as Manpower Supply Service in absence of Consideration for Services: CESTAT [Read Order]")
![TVS Capital Funds Gets Partial Relief from CESTAT in Sponsorship Service Tax & Cenvat Credit Dispute [Read Order]](https://images.taxscan.in/h-upload/2026/06/01/2138693-tvs-capital-funds-cestat-chennai-sponsorship-service-tax-cenvat-credit-taxscan.webp "TVS Capital Funds Gets Partial Relief from CESTAT in Sponsorship Service Tax & Cenvat Credit Dispute [Read Order]")
![Short Payment of Service Tax, No Penalty on National Insurance Co. if Differential Tax Arises from Reconciliation Exercise: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2026/05/30/2138559-short-payment-service-tax-penalty-national-insurance-co-reconciliation-cestat-bangalore-taxscan.webp "Short Payment of Service Tax, No Penalty on National Insurance Co. if Differential Tax Arises from Reconciliation Exercise: CESTAT [Read Order]")
![Banks Eligible for CENVAT Credit on Service Tax Paid for Deposit Insurance Premium: Karnataka HC [Read Order]](https://images.taxscan.in/h-upload/2026/05/20/2137523-banks-eligible-cenvat-credit-service-tax-karnataka-hc-taxscan.webp "Banks Eligible for CENVAT Credit on Service Tax Paid for Deposit Insurance Premium: Karnataka HC [Read Order]")
![Tour Beginning & Ending in J&K Outside Service Tax Net Under Finance Act, 1994: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/18/2140674-tour-beginning-ending-in-jk-outside-service-tax-net-under-finance-act-taxscan.webp "Tour Beginning & Ending in J&K Outside Service Tax Net Under Finance Act, 1994: CESTAT [Read Order]")
![NCLT Dismisses Insolvency Plea Filed by Ex‑SpiceJet Pilot, Rules Salary Claim Below ₹1 Crore and Disputed [Read Order]](https://images.taxscan.in/h-upload/2026/06/17/2140563-nclt-new-delhi-insolvency-plea-exspicejet-pilot-salary-claim-taxscan.webp "NCLT Dismisses Insolvency Plea Filed by Ex‑SpiceJet Pilot, Rules Salary Claim Below ₹1 Crore and Disputed [Read Order]")
NCLT Dismisses Insolvency Plea Filed by Ex‑SpiceJet Pilot, Rules Salary Claim Below ₹1 Crore and Disputed [Read Order]
The tribunal held that the claim amount, after statutory exclusions, was below the threshold, that interest was not contractually payable, and that a pre‑existing dispute existed between the parties
Kavi Priya
![Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CESTAT-CESTAT-Bangalore-Service-Tax-liquidated-damages-Taxscan.jpg "Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]")
Yogitha S. Yogesh
Rupesh Sharma
Saagarika Gopinath
Navasree A.MNCLT Dismisses Insolvency Plea Filed by Ex‑SpiceJet Pilot, Rules Salary Claim Below ₹1 Crore and Disputed [Read Order]
The tribunal held that the claim amount, after statutory exclusions, was below the threshold, that interest was not contractually payable, and that a pre‑existing dispute existed between the parties
![Reassessment Notice Issued by Jurisdictional AO Instead of Faceless AO u/s 151A Scheme is Invalid: Bombay HC Quashes Reassessment Orders [Read Order]](https://images.taxscan.in/h-upload/2026/06/17/2140621-reassessment-notice-jurisdictional-ao-faceless-ao-bombay-high-cout-taxscan.webp "Reassessment Notice Issued by Jurisdictional AO Instead of Faceless AO u/s 151A Scheme is Invalid: Bombay HC Quashes Reassessment Orders [Read Order]")
![GIA India Not a PE of GIA US: Bombay HC Dismisses Revenue’s Challenge on Royalty Taxation [Read Order]](https://images.taxscan.in/h-upload/2026/06/17/2140560-gia-india-not-a-pe-of-gia-us-bombay-hc-dismisses-revenues-challenge-on-royalty-taxation-taxscan.webp "GIA India Not a PE of GIA US: Bombay HC Dismisses Revenue’s Challenge on Royalty Taxation [Read Order]")
![MCA Imposes Penalty of Rs. 10,000 on Director for Filing Incorrect Appointment Date in Form DIR-12 [Read Notification]](https://images.taxscan.in/h-upload/2026/06/17/2140553-mca-imposes-penalty-of-rs-10000-on-director-for-filing-incorrect-appointment-date-in-form-dir-12-taxscan.webp "MCA Imposes Penalty of Rs. 10,000 on Director for Filing Incorrect Appointment Date in Form DIR-12 [Read Notification]")
