1 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

2May2012

3 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

Contd. from previous page

With warm regards,

CA. Nithin MahadevappaChairman

April 2012 activities

It was again an eventful month; during April 2012Bangalore branch has conducted the followingprograms:

• Workshop on International Taxation

• Workshop on Service Tax Valuation

• Seminar on Implementation and issues relating toSchedule VI (Revised)

• CPE Teleconferences

• Study Circle Meets

• Impact Seminars

All the programs were well appreciated by our membersby way of attending in good numbers. BangaloreBranch has continued its initiative of web-casting forthe major programs during the month. All the programsof Bangalore branch are recorded and hosted at branchwebsite (ICAI TUBE). I request the members/studentsto make use this service at www.bangaloreicai.org/resources/icai-tube.

On behalf of Bangalore Branch I thank all the speakers,resource persons, coordinators, professional colleaguesand employees of Bangalore branch for support all theevents and programs.

May 2012 activities

Again, we are focusing on intensive workshops andseminars during the month of May 2012. The detailsof the upcoming programs are:

(i) Workshop on Practical Issues in TDS & E-filing

Of late, TDS e-filing and compliance has become moreand more difficult and challenging for bothprofessionals and assesses. Keeping this in mind, westart the month with the workshop on Practical Issuesin TDS & E-filing. The program starts with interactivesession with the TDS officials from the Income TaxDepartment.

(ii) Workshop on Information Technology (Excel)

The ICAI and Bangalore has taken plethora ofinitiatives in empowering members with IT tools inaudit and services. All of us are aware that most of our

profession is depending on spreadsheets (in particularMS-Excel) as an audit tool. Having better knowledgeon this area is primary for all of us.

The main focus of this workshop is Advanced Featuresof MS-Excel and Working Module of Revised ScheduleVI using MS-Excel. This workshop is purely hands ontraining at ITT South Centre, Bangalore and thedelegation is restricted to 40 only.

(iii) Seminar on 'Internal Audit' in association withSIRC of ICAI

Seminar on 'Internal Audit' in association with SIRCof ICAI is organized focusing planning and executionof Internal Audit, Auditing Guidelines and standards,effective and efficient reporting, etc.

100th Batch of GMCS

During the month of April 2012, Bangalore Branch hasconducted 100th batch of GMCS (GeneralManagement and Communication Skills), a grandmilestone achieved. The first batch was started in theyear 2003 and till date about 5000 participants havegone through these 100 batches, it's a matter of pridefor all of us.

Reading Rooms

Board of Studies (BOS) of The Institute of CharteredAccountants of India intends to start reading roomfacilities across Bangalore in Association with Schools,Colleges and Libraries, etc. Wherein BOS will assistby way of grants for Furniture, Air-conditioning, etc.required for such facility. I request the members inassociation with such institutions to contact Bangalorebranch to facilitate the initiative.

Web-casting & ICAI Tube

Major programs at Bangalore Branch are live telecastedand all the programs are archived and available ondemand. All the recorded programs of Bangalorebranch are hosted in the Bangalore branch website, towatch them please visit www.bangaloreicai.org/resources/icai-tube.

4May2012

CALENDAR OF EVENTS - May & June 2012Date/Day Topic /Speaker Venue/Time CPE Credit

DISCLAIMER : The Bangalore Branch of ICAI is not in anyway responsible for the result of any action taken on the basisof the advertisement published in the newsletter. The members, however, bear in mind the provision of the code of ethics whileresponding to the advertisements. The views and opinions expressed or implied in the Branch Newsletter are those of the authors

and do not necessarily reflect that of Bangalore Branch of ICAI.

Note : High Tea at 5.30 pm for programmes at 6.00 pm at Branch Premises.

Advertisement Tariff for the Branch NewsletterColour full pageOutside back ` 30,000/-Inside back ` 24,000/-

Advt. material should reach us before 22nd of previous month.

Inside Black & WhiteFull page ` 15,000/-Half page ` 8,000/-Quarter page ` 4,000/-

Editor : CA. Nithin MahadevappaSub Editors : CA. Ravindranath. S.N

CA. Prasad. S.RCA. Shivakumar. H

Cover Page SubhashitaTranslation by : CA. Allama Prabhu M.S.

02.05.12 Discussion on Budget Provisions: 1. Rajiv Gandhi Equity Saving Branch PremisesWednesday Scheme, 2. Funding Start-ups - Classified as Income 06.00pm to 08.00pm

CA. Shubha Ganesh03.05.12 Workshop on Practical Issues in TDS & Efiling Branch PremisesThursday & Co-ordinator: CA. D. R. Venkatesh 04.00pm to 08.00pm04.05.12Friday Delegate Fee: Rs. 500/-09.05.12 Role of CAs in Planning & Budgetory Control Branch PremisesWednesday CA.G. Chalapathi Rao 06.00pm to 08.00pm

10.05.12 CPE Teleconference on Taxation Issues in Development Agreements Branch PremisesThursday CA. Chandrashekhar Gokhale, Hyderabad 11.00am to 01.00pm

16.05.12 Practical issues on “Search, Seizure & Survey” Branch PremisesWednesday CA. G.S. Prashanth 06.00pm to 08.00pm

17.05.12 Workshop on Information Technology (Excel) ITT South Centre,Thursday & “Advanced Features of MS-Excel” B'lore Br., ICAI,18.05.12 - CA. Aditya Singhal Sanjay Towers, #216,Friday “Working Module of Revised Schedule VI” - Basavanagudi, B'lore

CA. Shivakumar H. Ph: 26621434Delegate Fee: Rs. 1,000/- 05.00pm to 08.00pm

19.05.12 Programme on ‘Investor Awareness’ Branch PremisesSaturday No Fee For more details refer Branch website 09.30am to 01.00pm

20.05.12 Certification Course on Indirect Taxes -Sunday Delegate Fee: Rs.15,000/- For more details refer Branch website

23.05.12 CPE Teleconference on Valuation of Internal Control Framework & Branch PremisesWednesday Internal Audit in emerging Scenario 11.00am to 01.00pm

CA. Raj Kumar Adukia, Central Council Member

23.05.12 Seminar on Arbitration & Mediation (Impact Seminar - No Fee) Branch PremisesWednesday CA. S. S. Naganand 05.30pm to 08.30pm

26.05.12 Seminar on ‘Internal Audit’ in association with SIRC of ICAI Branch PremisesSaturday Delegate Fee:Rs. 500/- For more details refer Branch website 10.00am to 05.30pm

30.05.12 How to be successful in practice & How to be a successful Branch PremisesWednesday entrepreneur-for young Chartered Accountants - CMII Programme 09.30am to 05.30pm

Delegate Fee:Rs. 500/- For more details refer Branch website

31.05.12 “FEMA-An overview & Recent Issues” (Impact Seminar - No Fee) Branch PremisesThursday CA. G. Sudhakar 05.30pm to 08.30pm

06.06.12 “Taxation & Issues of HUF” Branch PremisesWednesday Mr. Naginchand Khincha 06.00pm to 08.00pm

13.06.12 “SOX and Carbon Credit” (Impact Seminar - No Fee) Branch PremisesWednesday CA. Aman Dutt & CA. Bose Varghese 05.30pm to 08.30pm

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5 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

TAX UPDATES MARCH 2012CA. Chythanya K.K., B.Com, FCA, LL.B., Advocate

VAT, CST, ENTRY TAX,PROFESSIONAL TAX

PARTS DIGESTED:a) 48 VST – Part 4

b) 49 VST – Part 1 & 2

c) 13 GSTR – Part 2, 3 & 5

d) 16 KCTJ – Part 12

Reference / Description

[2012] 48 VST 433 (SC): HotelAshoka v. ACCT- In the instant casethe appellant, a registered dealerunder the KarVAT Act and the CSTAct, was managed by the IndianTourism Development CorporationLtd. having its duty free shops at allmajor international airports in India.At the duty-free shops, the dealer soldseveral articles including liquor toforeigners and Indians, who weregoing abroad or coming to India byair. The ACCT levied tax on the goodssold by the dealer in the duty-freeshops.The Supreme Court observedthat the assessee in the duty-freeshops sold goods directly to thepassengers and even the delivery ofgoods at the duty-free shops wasmade before importing the goods orbefore the goods had crossed thecustoms frontiers of India. Therefore,the Court held that sale of goods atduty-free shops in air port is a sale incourse of import under Section 5(6)of the CST Act and therefore nottaxable under the State Act.The Courtalso held that simply because the saleshave not been effected by transfer ofdocuments of title to the goods andthe sales are effected by givingphysical possession of the goods tothe customers, it would not mean that

the sale are not in the course of importunder Section 5(2) of the CST Act.Transfer of documents of title to thegoods is one of the methods wherebydelivery of goods is effected. Deliverymay be physical also.In the aforesaidcase, the Apex Court held that in ahigh sea sale it is not necessary thatthe sale has to be only way of transferof documents of title. There could bea high sea sale by actual delivery also.

[2012] 49 VST 1 (SC): IFBIndustries Ltd. v. State of Kerala- Inthe instant case the Supreme Courtheld that any discount given by meansof credit note issued subsequent to thesale of the article, constitutes tradediscount and is eligible for deductionunder Rule9(a) of the Kerala GeneralSales Tax Rules, 1963.The SupremeCourt further held that the claim fordeduction of the amounts of tradediscount could not be disallowedsolely on the ground that the discountamounts were not shown in the saleinvoices.

[2012] 49 VST 14 (Bom. – HC):CSTv. Pure Helium (India) Ltd.-Thequestion that arose before the BombayHigh Court for consideration waswhether the sale which occasions themovement of goods from the State ofMaharashtra to the Mumbai High(being the territory of the continentalshelf) is an inter-State sales or sale inthe course of export out of India.TheBombay High Court held that theabove transaction is neither an inter-State sales nor sale in the course ofexport out of India. However, theCourt refrained to answer whether thesaid transaction amounts to local sales

for the reason that the questionwhether it amounts to local sales hadnot raised from the order of theTribunal.

INCOME TAX

PARTS DIGESTED:

a) 340 ITR – Part 5b) 341 ITR – Part 3 to 5c) 205 Taxman – Part 2, 3, 4 & 6d) 14 ITR (Trib) – Part 3 to 6e) 135 ITD – Part 1 to 4f) 37 CAPJ – Part 6g) 43-B BCAJ – Part 6h) 143 TTJ – Part 3

Reference / Description

[2012] 340 ITR 580 (Mad -HC): CITv. Infrastructure DevelopmentFinance Co. Ltd.- In the instant casefor the assessment year 2001-02,refund had been granted to theassessee by intimation under Section143(1) of the Act on 30.11.2002, butpursuant to notice under Section143(2) issued on 24.06.2003 theassessment was framed under Section143(3) by an order passed on30.03.2004 holding that the assesseewas not entitled to refund and chargedinterest on excess refund in terms ofSection 234D of the Act.The MadrasHigh Court held that since the regularassessment had been completed on30.03.2004 and Section 234D cameinto operation on and from01.06.2003, which was prior to thecompletion of the regular assessment,the assessee was liable to pay intereston the excess refund amount receivedas contemplated under Section 234Dof the Act.The Court further held thatit is not the year of assessment thatfalls for consideration in thesecircumstances, but the date on whichthe regular assessment order has beenpassed.

6May2012

[2012] 341 ITR 518 (Delhi – HC):CIT v. Jackson Engineers Ltd.- In theinstant case the Delhi High Court heldthat assembling diesel generating setsamounts to manufacture and theassessee is entitled to deduction underSection 80-IA of the Act.

[2012] 341 ITR 518 (Delhi – HC):CIT v. Jackson Engineers Ltd.- In theinstant case the Delhi High Court heldthat the advances received fromcustomers, forfeited on account ofbreach of contract is not a sum derivedfrom any goods or services producedby assessee and therefore, not entitledfor deduction under Section 80-IA.

[2012] 341 ITR 556 (Bom. - HC):CIT V. Darshan Securities Pvt. Ltd.-In the instant case, the Bombay HighCourt dealing in respect of Section73(1) of the Act observed that thegross total income of the assessee wasrequired to be computed, inter alia,by computing the income under thehead of profits and gains of businessor profession as well. Both the incomefrom service charges in the amountof Rs. 2.25 crores and the loss in sharetrading of Rs. 2.23 crores, would haveto be taken into account in computingthe income under that head, bothbeing sources under the same headand the assessee had a dividendincome of Rs. 4.7 lakhs (income fromother sources). Therefore, the Courtheld that the assessee fell within thepurview of the exception carved outin the Explanation to Section 73 andthat consequently the assessee wouldnot be deemed to be carrying on aspeculation business for the purposeof Section 73(1).

[2012] 341 ITR 593 (Delhi – HC):CIT v. Virtual Soft Systems Ltd.-Inthe instant case the assessee hadfollowed the Guidance Note issued byICAI in respect of accounting lease

rentals. The Assessing Officerdisregarded the method of accountingfollowed by the assessee.The DelhiHigh Court held that the method ofaccounting followed by the assesseewas based on guideline commendedfor adoption by a professional bodysuch as the ICAI. The Guidance Notereflects the best practices adopted byaccountants the world over. The factthat, at the relevant point in time, itwas not mandatory to adopt themethodology professed by theGuidance Note issued by the ICAI, isirrelevant for the reason that, as longas there was a disclosure of the changein the Accounting Policy in theaccounts, which had a backing of aprofessional body such as the ICAI,it could not be discarded by theAssessing Officer. Further the Courtheld that ICAI is recognized as thebody vested with the authority torecommend accounting standardsfor ultimate prescription by theCentral Government in consultationby the National Advisory Committeeof Accounting Standards, forpresentation of financial statements.The provisions of Section 211(3C)of the Companies Act are quiteclear on this aspect.Therefore, theCourt held that the Assessing Officercould not have disregarded themethod of accounting followed by theassessee.

[2012] 342 ITR 1 (Karn. – HC):Karnataka Instrade CorporationLtd. ACIT-In the instant case theassessee had filed return disclosingthe capital gain with a footnote that itwas merely transferred to capitalreserve and, therefore, not a taxablecapital gain.The Karnataka HighCourt held that a footnote cannotguide or control a return which is filedby an assessee. A footnote if at all canbe for the purpose of amplification or

for further reference or any suchthing, but not to indicate a standcontrary to the main thing.

[2012] 342 ITR 17 (HP – HC):Durga Dass Devki Nandan v. ITO-In the instant case assessee was a firm.The partnership deed did not providefor payment of remuneration in termsof CBDT Circular No. 739 dated25.03.1996. The Assessing Officerdisallowed the remuneration for thereason that the partnership deed didnot specify the amount ofremuneration payable to theindividual working partner or laiddown the manner of quantifying suchremuneration. The Himachal PradeshHigh Court observed that thepartnership deed provided that theremuneration would be as per theprovisions of the IT Act. It clearlymeant that the remuneration payableto the partners would be quantified asper the provisions of the IT Act andwould not exceed the maximumremuneration provided. Therefore,the Court held that the remunerationwas deductible.

[2012] 342 ITR 38 (Delhi – HC): CITv. Ravinder Kumar Arora-In theinstant case the assessee had claimedexemption of capital gain underSection 54F of the IT Act on accountof purchase of new house property.The Assessing Officer rejected theclaim because the house had beenpurchased in the joint names of theassessee and his wife.The Delhi HighCourt finding that the wife of theassessee had not contributed topurchase held that the merely becausethe assessee had included the nameof his wife and the property purchasedin the joint names would not makeany difference, therefore, assesseewas entitled to exemption underSection 54F of the Act.

7 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

[2012] 342 ITR 49 (SC): TopmanExports v. CIT-In the instant case theSupreme Court dealing with the modeof computation of profits of businessin respect of sale of credit dutyentitlement pass book (DEPB) heldthat entire sale proceeds should notto be treated as profits but onlydifference between sale value and facevalue of credit should be treated asprofits and the said profit should berecognized in the year in which theDEBP credit was transferred.Furtherthe Court held that where an assesseehas an export turnover exceeding Rs.10 crores and has made profits ontransfer of DEPB credit under clause(iiid) of Section 28, he would not getthe benefit of addition to exportprofits under the third or fourthproviso to sub-Section (3) of Section80HHC, but he would get the benefitof exclusion of a smaller figure from‘profits of business’ underExplanation (baa) to Section 80HHCas there is nothing in the saidExplanation to show that this benefitof will not be available to assesseehaving an export turnover exceedingRs. 10 crores.

[2012] 342 ITR 69 (Guj. HC) [FB]:CIT v. Hariprasad Bhojnagarwala-In the instant case the full benchGujarat High Court held that thebenefit of relief in respect of self-occupied property under Section23(2) of the Act is allowable to aHindu Undivided Family.

[2012] 205 Taxman 138 (Delhi -HC); 18 taxmann.com 98 (Delhi -HC): CIT v. Rajan Nanda-In theinstant case the Delhi High Court heldthat the premium paid by the assesseecompany on Keyman insurancepolicy should be allowed as businessexpenditure. The Court further heldthat merely because policy was

assigned after sometime would notmean that expenditure incurred in firstinstance would lose flavour of it being‘business expenditure’.The assessee’semployer company had takenKeyman insurance policy on life ofassessee. In the next year, the saidcompany assigned the aforesaidpolicy to the assessee on receivingsurrender value from the assessee.Thereafter, for remaining period ofpolicy, premiums were paid by theassessee. The Assessing Officertreated amount of difference betweenpremium paid by employer companyand surrender value paid by assesseeas profit in lieu of salary to be taxedin assessee’s hands.The Delhi HighCourt held that only that payment,which is received by employee underKeyman insurance policy, can betaxed in hands of employee underSection 17(3)(ii) of the IT Act. In theinstant case tax event did not occur,as no such amount was received attime of assignment of policy bycompany as employer to directorassessee, as employee and, therefore,nothing could be taxed in assessee’shands under Section 17(3)(ii) of theIT Act.The Court further held thatonce there is an assignment ofKeyman insurance policy byemployer company to employee,insurance policy gets converted intoan ordinary policy and in that casematurity value received by employeewould not be subjected to tax in viewof Section 10(10D).

[2012] 205 Taxman 250 (Karn. -HC);18 taxmann.com 372 (Karn. -HC): CIT v. Infosys TechnologiesLtd.- In the instant case the KarnatakaHigh Court held that amountpaid by assessee-company towardssubscription for obtaining corporatemembership in club was revenueexpenditure.

[2012] 205 Taxman 320 (AAR);18taxmann.com 172 (AAR) :CitrixSystems Asia Pacific Pty. Ltd., In re-In the instant case the applicant is anAustralian Company engaged inbusiness of providing softwareservices. It had appointed ‘I’, anIndian company, as non-exclusivedistributor for sale of its softwareproducts in India. It was contendedby applicant that under agreement,software products were purchased bydistributor from applicant and sold bydistributor. In respect of certainsoftware products such as CitrixXenApp, distributor placed order ofpurchase with applicant and madepayment for same to applicant andthereafter applicant transmitted a Keyto end-user customer and on receiptof said Key, end-user customerdownloaded software fromapplicant’s server. Applicant alsosubmitted that right acquired bypurchaser from sale was only to usecopyrighted article and not right to usecopyright embedded in software and,therefore, sum received by applicantfrom distributor from sale of softwarewas in the nature of sale revenue andcannot be classified as royalty asdefined in section 9(1)(vi) and/orunder Article 12 of Indo-Australiantax treaty. The Authority for AdvanceRuling observed that whenever asoftware is assigned or licensed foruse, there is involved an assignmentof right to use embedded copyrightin software or a license to useembedded copyright, the intellectualproperty right in software. Therefore,it is not possible to divorce softwarefrom intellectual property right ofcreator of software embedded therein.Therefore, applicant’s argument thatlicensing of a software for use by end-use customer, is mere sale of acopyrighted article and does not

8May2012

involve grant of a right to usecopyright in software, cannot beaccepted. In view of above, the AARruled that payments received byapplicant from distributor for sale ofsoftware product is in nature ofroyalty within meaning of section9(1)(vi). Since Article 12.3 of DTAAbetween India and Australia definingroyalties also ropes in payment ofconsideration for use of a copyrightin addition to consideration paid forright to use a copyright, covered bydefinition in Income-tax Act, paymentreceived by applicant from distributoris to be treated as royalty withinmeaning of Article 12.

[2012] 205 Taxman 136 (SC) (Mag.);18 taxmann.com 137 (SC): ACGAssociated Capsules (P.) Ltd. v. CIT-In the instant case the assessee filedreturn of income claiming a deductionunder Section 80HHC. The AssessingOfficer deducted ninety percent of thegross interest and gross rent receivedfrom the profits of business whilecomputing the deduction underSection 80HHC and accordingly,reduced the deduction claimed.TheSupreme Court held that theexpression “included any such profit”in clause (baa) to Section 80HHCwould mean only such receipts byway of brokerage, commission,interest, rent, charges or any otherreceipt which are included in ‘profitsof business’ as computed under head‘profits and gains of business orprofession’ and the expression ‘profitsof the business’ would mean theprofits of the business as computedunder the head ‘profits and gains ofbusiness or profession’ as reduced bythe receipts of the nature mentionedin clauses (1) and (2) of theExplanation (baa). Thus, the profitsof the business of the business of an

assessee will have to be firstcomputed under the head ‘profits andgains of business or profession’ inaccordance with provisions ofsections 28 to 44D. In thecomputation of such profits ofbusiness, all receipts of income,which are chargeable as profits andgains of business under Section 28,will have to be included. Similarly,in computation of such profits ofbusiness, different expenses which areallowable under Sections 30 to 44Dhave to be allowed as expenses. Afterincluding such receipts of income andafter deduction such expenses, thetotal of the net receipts are profits ofthe business of the assessee computedunder the head ‘profits and gains ofbusiness or profession’ from whichdeductions are to made under clauses(1) and (2) of Explanation(baa).Therefore, the Court held thatninety per cent of not gross rent orgross interest but only net interest ornet rent, which has been included inprofits of business of assessee ascomputed under head ‘Profits andGains of Business or Profession’, isto be deducted under clause (1) ofExplanation (baa) to section 80HHCfor determining profits ofbusiness.Further the Court held thatif any quantum of receipt of naturementioned in clause (1) ofExplanation (baa) is allowed asexpenses under Sections 30 to 44Dand is not included in profits ofbusiness as computed under head‘Profits and Gains of Business orProfession’, ninety per cent of suchquantum of receipts cannot bereduced under clause (1) Explanation(baa) from profits of business.

[2012] 135 ITD (BN – VI) (Jaipur –Trib.) Part 2; [2012] 19taxmann.com 27 (Jaipur – Trib.):

ACIT v. Shri Raj Kumar Jain & Sons(HUF) - In the instant case theassessee sold property for Rs. 2.47crores and disclosed capital gain ofRs. 1.14 crores. To overcome therestriction in the Proviso to Section54EC of the IT Act (that theinvestment made in the specified asset“during any financial year” shouldnot exceed Rs. 50 lakhs), the assessee,within the prescribed period of 6months, invested Rs. 50 lakhs on31.03.2008 (FY 2007-08) &10.06.2008 (FY 2008-09) andclaimed a deduction of Rs. 1 Crore.The Assessing Officer rejected theclaim of the assessee.The JaipurTribunal observed that the object ofthe proviso to Section 54EC is toprovide a ceiling of Rs. 50 lakhs oninvestment by an assessee in the longterm specified assets. If the assessee’sinterpretation is accepted then,because the transfer of assets hastaken place from 1st October to 31stMarch, the assessee is able to investRs. 50 lakhs in the financial year inwhich the transfer took place and Rs.50 lakhs in the subsequent financialyear. However, assessees who havemade a transfer of assets from 1stApril to 30th September will not beentitled to do so. Accordingly, theTribunal held that the investment hasto be linked to the financial year inwhich transfer has taken place and theclaim for deduction cannot exceed Rs.50 lakhs. In other words, the JaipurTribunal held that Section 54EC of theIT Act limit of Rs. 50 lakhs applies tothe transaction & not financial year.Thecontra view has been taken by theAhmedabad Tribunal in the case ofAspi Ginwala v. ACIT, wherein theTribunal has held that Section 54EClimit of Rs. 50 lakhs does not apply tothe transaction but financial year.

9 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

RECENT JUDICIALPRONOUNCEMENTS ININDIRECT TAXESCA. N.R. Badrinath, Grad B.Com., Grad C.W.A., F.C.A.CA. Madhur Harlalka, B. Com., F.C.A

Central Excise:

1. Interest on voluntary paymentof excise duty, which was timebarred: The issue before the Highcourt is whether interest is payableon voluntary payment of centralexcise duty, which is irrecoverableon account of the same beingbeyond the one year period. TheHigh court held that interestcannot be levied since recovery ofsuch unpaid duty was not possibleotherwise by way of assesseemaking voluntary payment. Thecase would not fall under sub-Section (2B) of Section 11A of theAct that voluntary payment ofunpaid duty before issuance ofshow cause notice under sub-Section (1) of Section 11A. Theshow cause notice under Section11A should be issued within 1 yearfor recovery of unpaid duty. If byefflux of time and in absence ofavailability of extended period oflimitation, such show cause noticeshall become time barred andtherefore any payment madevoluntarily by the manufacturercannot be viewed as one madeunder sub-Section (2B) of Section11A of the Act. [CCE&C,Vadodara-II Vs. M/s. GujaratNarmada Fertilizers CompanyLimited, 2012-TIOL-273-HC-AHM-CX]

2. Interest on excise duty, which istime barred: The issue before theHigh Court is with respect to time

limit for demand of interest. In thepresent case, the differential dutywas remitted without interest.After a lapse of about three years,interest was demanded ondifferential duty remitted. TheHigh Court quashed the demandof interest on the ground that theperiod of limitation that applies toa claim for the principal amountshould also apply to the claim forinterest thereon. The period oflimitation prescribed for demandof duty under Section 11A isnormally one year under Section11(A) / five years in circumstancefalling under the proviso toSection 11A(1) of Central ExciseAct, 1944. [M/s. Kwality IceCream Company & ANR Vs. UOI& ORS, 2012-TIOL-252-HC-DEL-CX]

3. Power of the High Court tocondone delay in filing appealbeyond the prescribed time inthe Statute: The issue before theHigh Court is whether the HighCourt has the power to extend theprescribed period as specified inthe statute? In the present case, anappeal is preferred against theorder of the AssistantCommissioner to theCommissioner of Central Excise(Appeals), which was not filedwithin the period of limitationprescribed by Section 35 of theCentral Excise Act, 1944. ThePetitioner submitted that inexercise of the powers conferred

by Section 5 of the Limitation Act,1963, it would be open to thisCourt while exercising itsjurisdiction under Article 226 ofthe Constitution to condone thedelay, even though it is beyond theperiod prescribed by Section 35 ofthe Central Excise Act, 1944. TheHigh Court held that the HighCourt would not be justified inentertaining the petition anddirecting the Commissioner(Appeals) to condone the delay asperiod of limitation is prescribedfor filing of an appeal and furtherthe extent of the power to condonethe delay is also prescribed by thestatute. The exercise of the writjurisdiction under Article 226 ofthe Constitution would clearly notbe warranted to direct theadjudicatory or appellate authorityto breach the provision forlimitation. Once the legislaturehas laid down a period withinwhich an appeal has to be filed andhas prescribed the extent to whicha delay beyond that period can becondoned, recourse to theprovisions of Section 5 of theLimitation Act, 1963 would stand‘expressly excluded’ within themeaning of Section 29(2) of theLimitation Act, 1963. The HighCourt in the exercise of itsjurisdiction under Article 226 ofthe Constitution cannot issue adirection, which would commandthe authorities constituted underthe Act to bypass or breach theprovisions made in the statute. [M/s. Raj Chemicals Vs. Union ofIndia & ORS, 2012-TIOL-278-HC-MUM-CX]

4. Valuation of goods in case ofsupplies at project site: In thepresent case, the contract enteredinto was for supply of goods at theproject sites and also certain

10May2012

activity of epoxy painting andoutside gunnitting was to becarried out at the buyer’spremises. The revenue has treatedproject site as the place of removalof goods and as a result freightupto place of removal is includedin computing the assessable valueand duty is demanded on suchvalue under Section 4 of CentralExcise Act, 1944. The Tribunaldismissed the revenues contentionon the ground that the assesseehad undertaken to carry out certainprocesses like epoxy coating andgunnitting, not amounting tomanufacture at the project site andunless it is proved that the risk ofany damage to the pipes stored atproject site till the processes werecarried out, was to the assesseesaccount, it cannot be held that theplace of sale was the project site.The expression ‘place or premisesfrom where the excisable goodsare to be sold’ used in Section4(3)(c) cannot be interpreted tomean a place or premises wherethe excisable goods are deliveredto the buyers. [M/s. CCEX,Chandigarh Vs. Mukat PipesLimited, 2012-TIOL-400-CESTAT-DEL]

5. Commissioner (Appeals) doesnot have power to remand thecase to Original authority: Theissue before the Tribunal iswhether remand order passed byCommissioner (Appeals) is valid?In the present case, the assesseemanufactured goods on job workbasis and cleared such goods toprincipal manufacturer bycollecting duty. Assessee did notremit such duty to governmentwhich resulted in demand of dutyunder the Central Excise Act,1944. Further, the assessee

pleaded before the Commissioner(Appeals) to allow the benefit ofCENVAT credit who remandedthe case to original authority asrelevant documents / recordsshould be verified before allowingCENVAT credit. The assessee haschallenged before the Tribunal onthe ground that as per Section35A(3) of the Central Excise Act,1944, the Commissioner(Appeals) has no power to remandcase to original authority. TheTribunal held that remand orderpassed by Commissioner(Appeals) is not sustainable.However, it was found that reasonfor issuing a remand order isjustifiable as plea was for allowingCENVAT credit has to beconsidered on verification ofrelevant documents / recordswhich has to be undertaken byoriginal authority. The reasonfound for issuing remand order isfound to be justifiable hence valid.[CCE&C, Visakhapatnam-I Vs.M/s Kendriya Chemicals &Fertilizers, 2012-TIOL-353-CESTAT-BANG]

Service Tax:

6. Intellectual Property RightServices: A motor-cycle companyentered in an agreement with oilcompanies for use of motor cyclecompany brand name on the oilcompany products for thepurposes of marketing andpromoting. The service tax wasdemanded under the category of“Intellectual Property RightServices”. Tribunal held that thegoods manufactured by the oilcompanies are to be used in thevehicles manufactured by theappellant companies and have astrong connection with the same.

The appearance of the trade markon the oil company’s productsdefinitely indicates a connectionbetween the said companies andthe appellant’s product. If the oilcompanies would have used thesaid trade mark without enteringinto an agreement, the same wouldhave amounted to infringement oftheir rights under the Trade MarkAct. This explains the need toenter into an agreement with theappellant and for payment ofroyalty to them. Accordingly,service tax under IntellectualProperty Right Services is upheld.[M/s. Hero Honda Motors Ltd Vs.CST, New Delhi, 2012-TIOL-379-CESTAT-Del].

7. Abatement under notificationno. 1/2006 for only partialconstruction of residentialcomplexes: In the present case, inrespect of some contracts theappellant were availing abatementof 67% of the total contract valueand paying service tax only on33% of the contract value underthe Notification no. 1/2006-STdated 01.03.2006. The saidabatement is subject to thecondition that CENVAT credit ofduty paid on inputs or capitalgoods for providing such taxableservice is not taken under theprovisions of CENVAT CreditRules, 2004. The abatement wasopted for certain contracts and notfor all contracts. The departmentcontended that they were noteligible to avail the abatement of67% as per Notification no. 6/2006-ST as they were notapplying the said notificationconsistently for all the contracts.The Tribunal quashed the ordersof lower authority on the groundthat the notification does not

11 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

stipulates to avail/non-availCENVAT uniformly in respect ofall the contracts executed by theassessee. Hence, it is for theassessee to choose whichformulation he wants to follow ina given contract. [M/s. BharatHeavy Electricals Ltd Vs CCE,Nagpur, 2012-TIOL-348-CESTAT-MUM]

8. Storage and retrieval of records/ documents are not subject toservice tax: The question forconsideration before the Tribunalis whether the services likesegregation and packing charges,storage charges and retrievalcharges of records / documents areliable to service tax. Tribunal heldthat the appellants are not liableto pay any service tax in respectof the activity undertaken by themrelating to the storage andwarehousing of old records oftheir clients. The records such asdischarged cheques, vouchers,deeds, agreements, books ofaccounts of banks and corporatehouses cannot be equated withgoods as defined in the FinanceAct, 1994 read with section 2(7)of the Sale of Goods Act, 1930.Further such records / documentsare not saleable goods and they donot have any marketability.Reliance is placed on the decisionof Honorable Apex Court in caseof in R. D. Saxena vs. BalramPrasad Sharma. [CST, Mumbai, PN Writer & Co Ltd Vs P N Writer& Co Ltd, CCE, Thane-I 2012-TIOL-343-CESTAT-MUM]

9. Enquiry Letter is not Order inthe eye of laws: The issue beforethe Tribunal is whether a letter ofenquiry for enquiry of certaininformation about some

transactions from the appellant isvalid as like show-cause notice?The Commissioner (Appeals)admitted the appeal of theappellant and held that theservices rendered are taxable. TheTribunal quashed the order ofCommissioner (Appeals) on theground that no show-cause noticehas been issued in this matter andthere is no adjudication orderagainst the appellants, therefore,no appeal was maintainable beforethe Commissioner (Appeals).Such an impugned order is not anorder in the eyes of law and assuch impugned order is set asideand appeal is allowed. [M/s. Inter-globe Enterprises Limited Vs.CCE, Mumbai -I 2012-TIOL-304-CESTAT-MUM]

CENVAT Credit:

10. Maintenance of staff colony isinput services: The issue beforethe High Court is whethermaintenance of staff colony is aninput service under Rule 2(l) of theCENVAT Credit Rules, 2004. Therespondents were maintaining thestaff colony, as the factory waslocated in a remote scheduledarea. The High court held that thestaff colony provided is beingdirectly and intrinsically linked toits manufacturing activity andcould not be excluded fromconsideration as these facilitieswould contribute to theenhancement of the productivityof the organization. Consequently,the services which were crucial formaintaining the staff colony, suchas lawn mowing, garbagecleaning, maintenance ofswimming pool, collection ofhousehold garbage, harvestcutting, weeding etc., necessarilyhad to be considered as ‘input

services’ falling within the ambitof Rule 2(l) of the CENVATRules, 2004. [CCE&C Vs. M/s.ITC Limited 2011-TMI- 212614-AP]

Customs:

11. Remission on goodsdestroyed due to seepage of rainwater: The issue before the Highcourt is whether abatement of dutyunder Section 22 is applicable orremission of duty under Section 23for goods imported and damaged dueto seepage of rain water. The duty wasdemanded on damaged goods, whichwas turned down by the Tribunal byholding that the case falls underSection 23 of the Act and not underSection 22 of the Act. The High Courton analyzing the provisions of Section22 and Section 23 upheld the decisionof tribunal. A harmonious reading ofthese two provisions make it veryclear if the imported goods aredamaged or deteriorated to the extentof the damage or deterioration of thegoods, the liability to pay duty abatesby operation of law under Section 22.The goods imported are lost ordestroyed or abandoned then the casefor remission of the duty payable ismade out on assessee bring factum ofthe goods being lost or destroyed tothe notice of the authorities and seekfor remission of the duty payableunder the Act under Section 23. If thegoods are there but it is of no use andthe assessee wants to abandon thegoods, then the request should be forrelinquishment of the title to suchgoods upon which the said goodsbecome the property of the of theDepartment and as a consequence ofwhich no duty is payable by theimporter. [CCE, Bangalore Vs.Symphony Services CorporationIndia Private Limited, 2011-TMI-212649-KAR]

12May2012

In the month of April 2012, BangaloreBranch passed another great milestone.

It conducted the 100th Batch of GMCS(General Management andCommunication Skills) course.

The First Batch was launched in2003 and in nine years, over 5000participants have gone through thesebatches. It is with pride that the membersof the Branch can take the passing of thismilestone. Some of participants who havesince become members of ICAI holdimportant posts or are well-entrenchedinto practice.

ICAI’s decision to make itmandatory is commendable. Throughmany surveys, it was confirmed that if itwas not mandatory only a very small lotof members would have attended thiscourse by investing 15 days and Rs.4500as course fee. And to bring value toparticipants, the Branch went further byhosting lunch every day of the course.This was done with the objective thatparticipants did not have to lose time insearch of lunch at nearby restaurants; thatare generally packed at that time of theday. Having tea and lunch togetherbrought about a lot of bonding among theparticipants.

A great credit goes to theCommittee and the Chairmen over thenine years. They zealously promoted andnurtured the GMCS ensuring that the SNarayanan Memorial Hall and the MDPRoom – both air-conditioned - wasavailable at all times. They also ensuredthat the sessions were well monitored anddelivered. The inauguration andvaledictory events were special events;and every participant that passed throughthe portals of GMCS will cherish it fortheir lifetime.

The administration team ensuredthat every little thing was taken careof. The desks, chairs, mikes, computer-projections, kit, tea, coffee, snacks,lunches, course-material, management-games-handouts, registrations, arrangingfacilitators, follow-ups, feedback,

THE 100TH BATCH OF GMCS

- BANGALORE BRANCH’S GREAT MILESTONE

CA. Nanu R. Mallya

scheduling; and a hundred things that gointo making it impeccable.

The GMCS in Bangalore had adifferent flavor and perhaps, it is one ofthe reasons that it became popularthrough word-of-mouth promotion by theparticipants. Participants from all parts ofIndia made a bee-line to BangaloreBranch and some chose it over their ownbranch’s program.

The flavor included theconstitution of facilitators. There was afair mix of free-lance facilitators, thosefrom industry, practicing managers,Chartered Accountants with a passion forManagement and Soft-skills teaching andhost of others. They did it more out ofpassion than anything else. Theyparticipants hit off very well with themand they were more friends thanfacilitator-participant relationship.

The flavor also included thepedagogy. The mandatory nature of theGMCS had a major resistance by mostparticipants. After having gone throughthe hard trek from school to qualifying inthe CA exams, the spectre of having toattend the GMCS was one of disbelief andthey mentally grappled about the necessityof this program. It seemed ridiculous thatthey had to compulsorily attend it to obtainparticipation certificate. And that only afterattending the GMCS, they would begranted membership of ICAI.

This view changed as the daysunfolded. It is on the first day that theyare pleasantly surprised that it is not aclass-room style of facilitation but oneinvolving games, team participation,competition. The participants came fromvarious cross-sections of the society.From well-to do families, middle-classfamilies, from small towns, from bigtowns, english-medium schools, regionallanguage schools. From small CA firms,mid-size firms and big ones. Thedemography could not be morediverse. The only thing in common wasthat they were either qualified CAs orChartered-Accountants-in-waiting.

So it’s a huge challenge to thefacilitators to integrate them into onesolid team and spend fifteen daystogether. The methodology made themshed their past attitudes, mind-sets andlife-conditioning. After a few days intoit; they would behave as if they have beenfriends for fifteen long years and thatthey belonged to the same tribe.

The competition on the last daywould be a frenzied and a fully-chargedaffair as it would be culmination of team-research, team-work, team-presentationsand every one was involved in thecompetition in some way or the other. TheGMCS at Bangalore got branded aslearning with fun.

Parting ways on the last day wasalmost like graduation. They bid farewellby hugging each-other. Signing scrapbooks, souvenirs and believing that theyare parting after fifteen long years (andnot fifteen days).

This GMCS Course introducedby ICAI is one the best things tohappen in recent time. And I totallyendorse the decision to make itmandatory. ICAI zealously regulates thestudents and members and making it oneof the most respected Institutions in India.The three or four year regimen is verychallenging to the students and it onlywith sheer hard work and smartness thatone passes through the gates as a CA.

Our profession has changedcompletely in the last decade or so. Thebusiness environment is fully chargedwith globalization and the IndianBusiness dynamics. The demands on ourprofession have grown manifold. Earlier,it was fine to set up a compact practiceand find a niche in a locality and earn adecent income. Today, with a plethora ofnew laws, statutory compliances, to beabreast of latest legal positions anddeliverables have become verychallenging. Proprietor kinds of practicewill soon dwindle. Partnerships withmulti-specializations will become anecessity to deliver timely and rightservices to the clients.

And the client sizes will be mediumand big-size. And to thrive in this newenvironment will require a CA to havesoft-skills, people-skills andmanagement-skills. The GMCS coursehas been very well designed to empower

13 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

the participants with skills likecommunication, inter-personal skills,team-building, team-working, leadership,time-management, negotiation skills,discussion leading, businesspresentations, stress-management,dressing, grooming, business etiquettes,motivation, delegation, empowerment,meeting skills and a host of other skills.

These dosages fortify a CA beforehe steps into the real world. They mayinitially find it irrelevant but as yearsunfold, the benefits are seen by them. Theeducation period of a CA student isdistinctively different from businessschools; and therefore the dispensationof the GMCS will be different. The CAstudent has to put in regular working

hours with their Principals. This includesbeing posted at clients offices in differentlocations, travel time, classes,examination; and they hardly enjoy anycollege or business school environment.

In view of this, it is quite a challenge– both to the ICAI and to the students –to dispense and receive the skill-setchange. In this environment, I must trulycompliment the ICAI to implement thispart with dedication. And we mustremember that the fee that is chargedis minimal unlike what the businessschools and colleges charge.

A constant feed-back is beingobtained and continuous up-gradation istaking place. The forthcoming changethat will take place on the GMCS front is

that it will be made into two parts. Oneat the start of the article-training. Andthe second at the end. This should go along way in enhancing manifold the valueof the GMCS.

It is also commendable that theCA students have taken the rigors ofthe CA course in their stride. The IPCCcourse, their truncated college life, theGMCS all in addition to their three-yeararticle training and challenging exams.

With their technical studies andqualification; and now with empowermentthrough IPCC and GMCS courses, wewill, in the next few years, see a solidnew brand of members dischargingimportant roles in the business world.Making us very proud!

IMPORTANT DATES TO REMEMBER DURING THE MONTH OF MAY 2012

5th May 2012 Payment of Excise Duty for April 2012

Payment of Service Tax for April 2012 by Corporates

6th May 2012 E-Payment of Excise duty for April 2012

E-Payment of Service Tax for April 2012

7th May 2012 Deposit of TDS / TCS Collected during April 2012

10th May 2012 Monthly Returns for Production and Removal of Goods and CENVAT Credit for April 2012

Monthly Returns of Excisable Goods Manufactured & Receipt of Inputs and Capital Goods by Units inEOU,STP,HTP for April 2012

Monthly returns of Information relating to Principal inputs for April 2012 by Manufacturer ofSpecified Goods who paid Duty of Rs.1 Crore or More during financial year 2011-2012 by PLA/CENVAT/Both.

12th May 2012 Half Yearly Return for ESI Contribution for the Half year ending 31st March 2012

15th May 2012 Payment of EPF Contribution for April 2012.

Return of Employees Qualifying to EPF during April 2012

Quarterly Return for Tax Deducted at Source Payments during January to March 2012.

Quarterly Return for Tax Deducted at Source Collected during January to March 2012.

Statement of Tax Deducted at Source from Interest, Dividend, or any other sum payable to NonResident during January to March 2012.

20th May 2012 Monthly Return and payment of CST and VAT Collected During April 2012

21st May 2012 Deposit of ESI Contribution and Collections of April 2012 to the credit of ESI Corporation.

25th May 2012 Consolidated Statement of Dues and Remittances under EPF and EDLI For April 2012.

Monthly Returns of Employees Joined the Organisation for April 2012.

Monthly Returns of Employees left the Organisation for April 2012.

30th May 2012 TDS Certificate for Deductions made except Salaries for the quarter January to March 2012.

Annual Return for Professional Tax for the Financial year 2011-12

30th May 2012 Issues of TDS Certificate for Deductions from Salaries for the Financial year 2011-12.

Return of TDS from Contributions paid by the Trustees of an approved Superannuation Fund

14May2012

Examination Department of the Institute would like to availthe services of the members of the Institute (upto 15 years ofExperience) to act as Checker, other details are as under:

The Examination Department of the Institute avails theservices of resource persons (members of the Institute,academicians, executives, etc.) to act as Examiners to evaluatethe answer books of Chartered Accountants Examinations (Final/IPCE/PCE). Each examiner is required to appoint a person ashis checker to inter-alia perform the following functions besidesassisting him in the preparation of Award List.

The services of the checkers are required at individualexaminer level to check the following:1. To ensure that the marks awarded to the sub parts of a

question entered in the marks grid on the cover page of theanswer book has been totaled correctly.

2. To ensure that the total marks written in numerals in the marksgrid on the cover page of the answer book tallies with whatis written in words therein below.

3. To ensure that total marks in the grid is carried forwardcorrectly in numerals in the OMR portion on the right handbottom corner of the cover page of the answer book.

4. To ensure that the darkening of the corresponding OMRcircles on the cover page is done as per the numerals writtenin the box there above.

5. To ensure that the total marks on the cover page of theanswer book is carried forward correctly in the award listagainst the respective code number.

6. To ensure that the totals of the marks entered in each columnof the award list is correct.

7. To ensure that the grand total of each award list is correct8. To ensure that the total number of answer books is entered

correctly in the relevant box in the award list.9. To ensure that darkening of circles in the award list is in

accordance with the marks written in numerals against therespective code number of the answer book.

10. To ensure that the page wise totals of marks awarded on theaward list is carried forward correctly to the summary sheet

11. To ensure that totaling of marks of all the candidates carriedforward to the Summary Sheet is correct.

12. To ensure that darkening of OMR circles is done completelyin Cover page of the answer books as well as OMR AwardList.Over all scheme for members of the Institute to become

checkers:1. Members who would like to associate with the Examination

Department to act as Checker have to fill up an online form

ANNOUNCEMENTInvitation to become Checker for Chartered Accountants Examinations

available at http://www.icai.org/app_forms/empanelment.html. The Examination Department will notentertain any other mode of empanelment application form.

2. Based on the assignment given to individual examiners,reference of such examiners to whom the services ofempanelled checkers are required would be provided to theempanelled checkers in due course.

3. Though the empanelment is open to members having upto15 years of experience, first preference will be given tomembers having upto 5 years of post membership experience.Similarly second preference will be given to members withupto 10 years of post membership experience and so on.

4. The empanelled checkers have to visit the examiners at theirresidence or official address for providing the services asaforesaid.

5. A token honorarium of Rs. 25 per full paper or Rs. 15 per halfpaper would be paid to the checkers.

6. It is anticipated that the no. of visit of checker to the examinersoffice/residence would be maximum 3 to complete theassignment for which a conveyance expenditurereimbursement of Rs. 1000 for A class cities or 500 Rs. for Bclass cities (per occasion) will be paid. Additional visits bythe checkers to examiners, if found necessary may, also beeligible for reimbursement of the conveyance expendituresubject to necessary approvals.

Examination Department

We deeply regret toinform the sad demise of

our member CA. K. Eswara(M. No. 007611) on 23.2.2012

OBITUARY

May his soul rest in peace.

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15 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

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16May2012

Coaching Classes: IPCC / PCC & FINAL for November 2012 andCPT for December 2012 Examinations

Admissions open for Subjectwise CoachingIn pursuance of our objective to provide fruitful and quality teaching to our students, we are pleased to inform you that CPT/ IPCC/PCC and FINAL coaching classes will be commencing at the Bangalore Branch of SIRC of ICAI from 01st June 2012 onwards. Theclasses will be concluded by 30th September 2012.Salient features: • Experienced, Expert and Dedicated faculty members • Methodology – Conceptual teaching • Affordable CoachingFee • The journey of CA with Bangalore Branch is that of progress with innumerable activities of knowledge supported and guided byour senior renowned faculty members – resource persons • During the course, amazing, inspiring and motivational sessions andOrientation classes will be conducted • Concessional fee for deserving students.Hence be proud to be part of the Branch by enrolling as a student to become a proud member of this glorious profession.

Fees TimingsCPT Rs.4500/- 05.30pm to 07.30pm (Monday to Friday)

03.00pm to 07.30pm (Saturday)07.30am to 12Noon (Sunday)

IPCC / PCC / FINAL Rs.10000/- for Both Groups 06.30am to 09.30am (Monday to Saturday)Rs.8000/- for Single Group 06.00pm to 09.00pm (Monday to Saturday)Rs.2000/- for Single Subject 07.30am to 05.30pm (Sunday)

Faculty Members: CA. Hariharan K, Chennai, Dr. V. Rajesh Kumar, Bangalore, CA. Sampath Kumar, Bangalore, CA. Shanthi Ganapathi,Chennai, CA.Vijay Raja, Bangalore, CA. Naveen Khariwal G, Bangalore, CA. Shivanand Nayak P, Bangalore, CA. Narendra Jain, Bangalore,CA. Vikas Oswal, Bangalore, CA. Jatin Christopher, Bangalore, CA. Malay Kumar Panda, Bangalore, CA. Naveen Raj Purohit, Bangalore,Mr. J Sundaresan, Bangalore, Mrs. Malathy Sunderrajan, CA. Shruthi B N, CA. B N Ganesh Kumar, Prof. Venkateshwara Kiran I. Bangalore,CA. Lohit Jagdish, CA. Sudheendra H, CA. Jaikumar Nair, Bangalore, Mr. S Gopichandra, Bangalore, Mr. Ajay Kumar Menon, Bangalore,Mr. S V Madhavan, Bangalore, Mrs. Anita Mehtha, Bangalore and so many other renowned resource persons.

Registration Fees: DD should be drawn in favour of “Bangalore Branch of SIRC of ICAI” payable at Bangalore.For further details please contact: Tel: 080-30563500 / 511 / 512 / 513 Email: blrregistrations@icai.org / blrprogrammes@icai.org

Appeal to members: Members are requested to show their patronage by informing andencouraging their students to join the coaching classes of Bangalore Branch.

CA. K. Raghu, Central Council Member has been elected to the XBRL InternationalMembership Development Committee as ICAI representative in the International Conferenceheld in Toronto, Canada recently. XBRL International is a not-for-profit consortium of over600 companies and agencies worldwide working together to build the XBRL language andpromote and support its adoption. CA.K.Raghu is also a member of the board of XBRL India,a Section 25 company set up by ICAI to promote the use of XBRL in India.

He has also been nominated as ICAI representative on the Committee constituted by the Ministry of CorporateAffairs for improving delivery of services to stakeholders in MCA 21 so as to make it more user friendly.Suggestions on MCA 21 can be sent to cakraghu@kraghu.com.

Congratulations

CA.N. Nityananda,former Central Council Member, has

been co-opted on the Corporate Laws &Corporate Governance Committee of

ICAI for the year 2012-13.

CA. S. Prakash Chand,has been co-opted as a Member ofCommittee of SIRC on Financial

Markets & Investors Protection forthe year 2012-13.

CA. S. Prabhudev Aradhya,has been elected as the

Hon. Secretary ofBangalore Management

Association.

17 May2012

Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

1. Accountants Refresher Course2. Accountants Refresher Training Programme

For whom (Target Audience):

Working accountants (Unqualified)

LEVEL 1 LEVEL 2Junior Accountants Senior Accountants

Refresher Course for Accountants

The daily timings will be as follows:

Timings Sessions

10:00 am to 11:30 am Session 1

11:30am to 11:45am Tea Break

11:45am to 1:15pm Session 2

1:15pm to 02:00pm Lunch Break

02:00pm to 3:30pm Session 3

3:30pm to 3:45pm Tea Break

3:45pm to 5:00pm Session 4

For complete Course Content &Structure visit our websitewww.bangaloreicai.org

Venue: Sessions of the Course will be conducted at the renovated and airconditioned Management Training Centre at the Institute Premises, ‘ICAIBHAWAN’, 16/0, Millers Tank Bed Area, Vasanthnagar, Bangalore – 560052.

Fees: Rs. 5,000/- per participant, Batch Size: 50-60 ParticipantsCheque/DD should be drawn in favour of “Bangalore Branch of SIRC of ICAI”– payable at Bangalore.

Faculty: The Faculty Members consist of Professionals who are experts in theirrespective subjects. Their blend of theoretical knowledge and practical experiencewill enable the participants to clearly understand the subject and apply theknowledge in their working environment effectively.

Duration: The course will commence by May, 2012 and consist of 5 days of6 hours each divided into 4 sessions a day (i.e., Friday and Saturday in the firstweek and Thursday, Friday and Saturday in the second week).

AN APPEAL TO THE MEMBERS

KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATIONREDISCOVER…………RELEARN…………….REORIENT…………….REFOCUS

KSCAA is happy to announce that Infosys Leadership Institute, has confirmed the

2 DAY RESIDENTIAL WORKSHOPAT INFOSYS LEADERSHIP INSTITUTE, MYSORE

DISC PSYCHOMETRIC ANALYSIS*,SITUATIONAL LEADERSHIP/BUILDING

EFFECTIVE TEAM CLIMATE & ASSERTIVENESS SKILLS

Dates: Friday, 1st & Saturday, 2nd of June 2012(Departure from Bangalore: 4.00 PM on Thursday, 31st May 2012)

FEES: RS.7500/-(Inclusive of Delegate Fee, delegate kit, travelling from Bangalore &

back, boarding & lodging at ILI, Mysore on twin sharing basis)seats limited: 30 only (hurry! Only few seats left)

For further information contact the co-ordinators:

CA Anant Mutalik - 94487 01370,

CA Maddanaswamy B.V - 93412 14962,

CA Basavaraj H M - 98440 06543

*This is a personality/behaviourial report based onfour specific dimension, done with an intention of

discovering yourself and understanding the self better-in order to have better relationships,

The interested delegates are required to send theirdetailed profile and active email id

On firstcome,

first servedbasis

Last datefor

enrollment:15-5-2012

18May2012

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