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![Unsubstantiated Income shown in ITR: ITAT upholds Estimation of Income at 8% of Gross Receipts by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Chennai-ITR-AO-Unsubstantiated-Income-Taxscan.jpg "Unsubstantiated Income shown in ITR: ITAT upholds Estimation of Income at 8% of Gross Receipts by AO [Read Order]")
Unsubstantiated Income shown in ITR: ITAT upholds Estimation of Income at 8% of Gross Receipts by AO [Read Order]
In a notable ruling, the Income Tax Appellate Tribunal ( ITAT ), Chennai Bench, upheld the assessment by the Income Tax Officer ( ITO ) estimating an...
![Cost of Parts Supplied by Principal Manufacturer not Part of Job Worker’s Assessable Value: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CESTAT-CESTAT-Ahmedabad-Principal-Manufacturer-Cost-of-Parts-Supplied-value-of-Job-Work-taxscan.jpg "Cost of Parts Supplied by Principal Manufacturer not Part of Job Worker’s Assessable Value: CESTAT [Read Order]")
![Delhi HC nullifies ₹31 Lakh Income Tax Addition on Interest from FD Funds reserved for Coal-Mine Purchase [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Delhi-High-Court-Income-Tax-Coal-Mine-Taxscan.jpg "Delhi HC nullifies ₹31 Lakh Income Tax Addition on Interest from FD Funds reserved for Coal-Mine Purchase [Read Order]")
![ITAT Grants Exemption u/s 10(10B) for VRS Compensation Citing Central Government-Approved Scheme Benefiting Employees [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Chandigarh-Income-tax-income-tax-news-ITAT-Grants-Exemption-Taxscan.jpg "ITAT Grants Exemption u/s 10(10B) for VRS Compensation Citing Central Government-Approved Scheme Benefiting Employees [Read Order]")
AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCIT's Revision Order [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) quashed the order of the Principal Commissioner of Income Tax, stating that the Assessing Officer (AO) correctly allowed deduction under...
![AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCITs Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Deduction.jpg "AO Correctly allows Deduction u/s 80IA even Depreciation claimed less than limit: ITAT quashes PCITs Revision Order [Read Order]")