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![Income Cannot Be Estimated at 8% of Turnover When Books Are Audited & Past Profit History Shows Lower Margins: ITAT Reduces Rate to 4% [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139379-income-books-profit-history-itat-taxscan.webp "Income Cannot Be Estimated at 8% of Turnover When Books Are Audited & Past Profit History Shows Lower Margins: ITAT Reduces Rate to 4% [Read Order]")
Income Cannot Be Estimated at 8% of Turnover When Books Are Audited & Past Profit History Shows Lower Margins: ITAT Reduces Rate to 4% [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) reduced income estimation from 8% to 4% of turnover after finding that the assessee’s...
![CAM Charges Cannot Be Clubbed with Rent; TDS Deductible u/s 194C of Income Tax: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139364-cam-charges-clubbed-with-rent-tds-deductible-taxscan.webp "CAM Charges Cannot Be Clubbed with Rent; TDS Deductible u/s 194C of Income Tax: ITAT [Read Order]")
![Insolvency Plea Against Personal Guarantor Rejected as Guarantee Found Uninvoked and Liability Time‑Barred: NCLT Dismisses UCO Bank’s Petition [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139368-insolvency-plea-personal-gurantor-liability-nclt-uco-bank-petition-taxscan.webp "Insolvency Plea Against Personal Guarantor Rejected as Guarantee Found Uninvoked and Liability Time‑Barred: NCLT Dismisses UCO Bank’s Petition [Read Order]")
![Higher TDS u/s 206AA Not Applicable Where Deductees PAN Is Regularised Within CBDT Timeline: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139365-pan-is-regularised-within-cbdt-itat-taxscan.jfif "Higher TDS u/s 206AA Not Applicable Where Deductees PAN Is Regularised Within CBDT Timeline: ITAT [Read Order]")
![Amendment of GST Registration Post Tax Payment: Orissa HC directs petitioner to Deposit arrear Taxes [Read Order]](https://images.taxscan.in/h-upload/2026/06/05/2139221-gst-registration-amendment-orissa-high-taxscan.webp "Amendment of GST Registration Post Tax Payment: Orissa HC directs petitioner to Deposit arrear Taxes [Read Order]")
![GST Credit Misuse in GAIL Pipeline Project: Orissa HC Quashes FIR Alleging Non‑Payment of Dues in NCLT Liquidation Proceedings [Read Order]](https://images.taxscan.in/h-upload/2026/06/05/2139234-gst-credit-misuse-gail-pipeline-project-orissahigh-court-fir-alleging-nonpayment-nclt-liquidation-proceedings-taxscan.webp "GST Credit Misuse in GAIL Pipeline Project: Orissa HC Quashes FIR Alleging Non‑Payment of Dues in NCLT Liquidation Proceedings [Read Order]")
Income Cannot Be Estimated at 8% of Turnover When Books Are Audited & Past Profit History Shows Lower Margins: ITAT Reduces Rate to 4% [Read Order]
Padmanaban PrabaharanITAT reduced estimated profit from 8% to 4% of turnover after finding that the assessee’s books were audited and past profit margins were significantly lower.
![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]")
![Karnataka HC Quashes Service Tax Order, Remands Matter Citing Failure to Consider Exemption Notification and Reliance on TDS Statements/ITR [Read Order]](https://images.taxscan.in/h-upload/2026/05/19/2137410-karnataka-hc-quashes-service-tax-order-taxscan.webp "Karnataka HC Quashes Service Tax Order, Remands Matter Citing Failure to Consider Exemption Notification and Reliance on TDS Statements/ITR [Read Order]")
![Service Tax for Commercial Coaching and Training Services cannot be taxed Twice by Different Parties: CESTAT allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/05/18/2137319-service-tax-for-commercial-cestat-taxscan.webp "Service Tax for Commercial Coaching and Training Services cannot be taxed Twice by Different Parties: CESTAT allows Appeal [Read Order]")
![Demurrage Charges & Dispatch Money Not Taxable as Port Services: CESTAT [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139352-cestat-hyderabad-demurrage-charges-cargo-taxscan.webp "Demurrage Charges & Dispatch Money Not Taxable as Port Services: CESTAT [Read Order]")
![Unexecuted Agreements Not Operational Debt u/s 9: NCLT Delhi Rejects Jiostar India’s Insolvency Plea in Legends League T20 Case [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139358-unexecuted-agreements-operational-debt-nclt-delhi-jiohotstar-india-insolvency-plea-legends-league-t20-case-taxscan.webp "Unexecuted Agreements Not Operational Debt u/s 9: NCLT Delhi Rejects Jiostar India’s Insolvency Plea in Legends League T20 Case [Read Order]")
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
![Renew or Risk It? McAfee Penalised by CCPA for Fear-Driven Subscription Tactics [Read Notification]](https://images.taxscan.in/h-upload/2026/06/06/2139339-renew-or-risk-it-mcafee-penalised-ccpa-fear-driven-subscription-tactics-taxscan.webp "Renew or Risk It? McAfee Penalised by CCPA for Fear-Driven Subscription Tactics [Read Notification]")
![Physics Wallah Penalised by CCPA for Sneaking ₹10 Donations into Purchase Carts, Emotional Appeals to Users [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139328-physicswallah-penalised-by-ccpa-taxscan.jfif "Physics Wallah Penalised by CCPA for Sneaking ₹10 Donations into Purchase Carts, Emotional Appeals to Users [Read Order]")
![Commercial Wisdom of CoC Prevails: SRA cannot Reopen Negotiations after Resolution Plan Approval, rules Supreme Court [Read Order]](https://images.taxscan.in/h-upload/2026/06/06/2139316-commercial-wisdom-of-coc-prevails-supreme-court-taxscan.jfif "Commercial Wisdom of CoC Prevails: SRA cannot Reopen Negotiations after Resolution Plan Approval, rules Supreme Court [Read Order]")
