Service tax Determination of Value Rule not to apply to service provided by Govt./local authority where payment deferred for interest/other consideration

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)  Notification No. 23 /2016-Service Tax,  New Delhi, the 13th April, 2016 G.S.R.____ (E).- In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act,1994 (32 of 1994), the Central Government hereby …

CIT Revision u/s 263- the word ‘erroneous’ includes the failure to make an inquiry when circumstances would make such it prudent

In a recent judgment, ITAT held that  the word ‘erroneous’ in section 263 includes the failure to make an inquiry when circumstances would make such an enquiry prudent. Also order passed without applying the principles of natural justice or without application of mind are fall in the same category.  …