1 April · 3 April 2010 07.04.10 Basics of Business Valuation Branch Premises 2 Hrs Wednesday CA....

1 April2010

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Bangalore Branch of SIRCof the Institute of Chartered Accountants of India

April2010

3 April2010

07.04.10 Basics of Business Valuation Branch Premises 2 HrsWednesday CA. Gurudutt 06.00 PM to 08.00 PM14.04.10 Foreign Direct Investment Regulatory Frame Branch Premises 2 HrsWednesday Work - Draft Press Note 2010 06.00 PM to 08.00 PM

CA. D. S. Vivek17.04.10 Workshop on Legal & Financial Safeguards for Branch Premises 4 HrsSaturday Challenging Times 09.00AM to 01.00 PM

Delegate Fee: Rs. 250/- Details page no. 1821.04.10 Tax implications for Employees on Branch Premises 2 HrsWednesday Foreign Deputation (Inbound and Outbound) 06.00 PM to 08.00 PM

CA. Natarajan S24.04.10 Workshop on KVAT & CST Branch Premises 4 HrsSaturday Delegate Fee: Rs. 250/- Details page no. 18 09.30 AM to 01.30 PM28.04.10 FEMA Latest Circulars Branch Premises 2 HrsWednesday CA. B.D. Chandrasekar 06.00 PM to 08.00 PM01.05.10 Workshop on Service Tax Branch Premises 6 HrsSaturday Delegate Fee: Rs. 500/- Details page no. 18 09.00 AM to 05.30 PM

CPE PROGRAMS - April / May 2010Date/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 basis of the advertisementpublished in the newsletter. The members, however, bear in mind the provision of the code of ethics while responding to the advertisements. The views

and opinions expressed or implied in the Branch Newsletter are those of the authors and do not necessarily reflect those ofBangalore 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 Rs. 20,000/-Inside front Rs. 15,000/-Inside back Rs. 15,000/-

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

Inside Black & WhiteFull page Rs. 10,000/-Half page Rs. 6,000/-Quarter page Rs. 3,000/-

7-Apr-10 - Payment of Tax deducted &Tax collected for the month of March 2010.(However, TDS made on credit entries passed on last day of the financial year based on accrual system ofaccounting, the due date for remittance is 31st May, 2010.

- Deliver to the Commissioner, one copy of declaration received in Form 15 G & Form 15H in the month ofMarch 2010

10-Apr-10 - Filing of monthly returns of Central Excise for the month of March 2010.15-Apr-10 - Filing of VAT 120 under KVAT Laws for the month of March 2010.

- Payment of Provident Fund for the month of March 2010.20-Apr-10 - Filing of VAT 100 under KVAT Laws for the month of March 2010.

- Filing of Professional Tax returns for the month of March, 2010.21-Apr-10 - Payment of Employee State Insurance for the month of March 2010.25-Apr-10 - Filing of Service Tax Return for the Half year ending 31.03.2010.

- Filing of Monthly returns of Provident Fund for the month of March 2010.30-Apr-10 - Filing of Quarterly Statement in Form 27EQ for tax collected at source for the quarter ended 31st March, 2010.

- Payment of Professional Tax for the year 2010-11.- Filing of Provident Fund Annual return for the year 2008-09.

Editor : CA. Shambhu Sharma H.

Sub Editor : CA. Prasad S.R.

Important Dates to remember during the month of April 2010

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April2010

Name Address Office Residence MobileCA. Shambhu Sharma H. No. 61, 1st Floor, BTS Main Road, 22227201 25716851 98450–77362Chairman Near 11th Cross, Wilson Garden, 22273819E-mail: [email protected] Bangalore – 560027CA. Venkatesh Babu T. R. # 40/1, 2nd Floor 5th Cross 22103247 23444564 98450–31028Vice Chairman 3rd Main Wilson Garden, 41329264E-mail: [email protected] Bangalore-560027 22103247CA. Babu K. No. 16, 2nd Floor, Apple villa, 22483869 — 93425–00855Secretary Service Tax Office Complex, 97313-00855E-mail: [email protected] Lalbagh Road, Bangalore – 560027CA. Ravindranath S. N. Partner Narayana Setty RVM & Co., 26611090 26676112 96325-03279Treasurer Chartered Accountants, #227 IST FLR, 22420924E-mail: [email protected] 4TH Main Road (opp to SBM) 26670924

ChamarajpetBangalore - 560080CA. Nithin M. No.163, Second Floor Rajeshwari 41204315 — 94484-023569Chairman, SICASA Complex Above Karnataka Bank LTD. [email protected]; R V RoadBangalore 560004CA. Govinda Bhat N. CFO and Company Secretary 30912600 — 97312-67777Member Mistral Solutions Pvt [email protected] 60 Addarsh Regent, 100 Feet Ring Road

Domlur EXTNBangalore 560071CA. Shivakumar H. No. 11 Resham MahaL Complex 22218628 — 98440-38807Member Cubbonpet Main [email protected] Bangalore 560022CA. Prasad S. R. No.2A I Floor Nanjappa Road 41248838 — 98455-42486Member Shanthi [email protected] Bangalore 560027CA. Raghu K. M – 12, Unity Building, J C Road, 22240020 26597142 93412–19091Ex-OfficioCentral Council Bangalore – 560002 22210309E-maill: [email protected]. Madhukar N. Hiregange No 1010 I Floor (Above Corporation Bank) 26536404 98453-44353Ex-OfficioCentral Council 26th Main 4th “T” Block Jayanagar [email protected] Bangalore 560041CA. Srinivas C. S. No. 27 Between 2nd & 3rd Cross, 43464700 22427349 98450–63387Ex-OfficioRegional Council Pampamahakavi Road Shankarapuram 43464749E-mail: [email protected] Bangalore 560004CA. Suresh P. R. No. 137, 5th Main, 2nd Block, 3rd Stage, 23225000 — 98450–58988Ex-OfficioRegional Council Basaveshwaranagar, [email protected] Bangalore – 79 22929350CA. Viswanath K. ‘POORNIMA’, 25587385 25595551 99455–25595Ex-OfficioRegional Council 25, State Bank Road 25586814 25595295E-mail: [email protected] Bangalore – 560001 25594661

Managing Committee Members ofBangalore Branch 2010-13

5 April2010

TAX UPDATES FEBRUARY 2010Chythanya K.K., B.Com, FCA, LL.B, Advocate

VAT, CST, ENTRY TAX,PROFESSIONAL TAXPARTS DIGESTED:a) 2009-10 (14) KCTJ – Vol-14 No.11b) 2010 (68) KLJ Part 2c) 28 VST – Part 1 & 2

Reference/Description2010 (68) Kar. L.J. 113 (HC) (DB)Shekar Bhojanna v. State ofKarnataka In the instant case theassessee was a distributor of motorcycles, despatching motor cycles fromhis depot on lorries for delivery on saleto dealers spread out in the State at theirdoor-steps. The assessee was collectingtransportation charge on account of thesaid delivery from the dealers byshowing it separately in the sale bill.The assessee however, was not payingtax on the freight amount on thecontention that the freight was a post-sale expense and so did not form partof price of the motor cycles, whose salewas ex-depot. The Hon’ble High Courtof Karnataka held that, where theassessee had failed to refute theconcurrent finding arrived at by boththe tax authorities as well as theTribunal that the freight paid was pre-sale expense forming part of sale price,that the freight paid by him was onbehalf of dealers in terms of a separateagreement with them and that the saleconcluded at his depot and that thetransport was arranged at the risk andcost of the dealers, the assessee wasliable to pay tax inclusive of the freightamount, including the same as a partof his taxable turnover.Therefore, it isimportant for the assessee to prove onfact that the freight is a post saleexpense and such proof should be

furnished to the satisfaction of theTribunal.

[2010] 28 VST 64 (Ker) HCI.F.B. Industries Ltd. v. State of KeralaThe Hon’ble High Court of Kerala inthe instant case observed that for thepurpose of Kerala General Sales TaxRules, 1963, r. 9 (a) (discountallowable in the computation oftaxable turnover) the conditionprecedent was that the price chargedon the goods should be less discount(therefore in the nature of a tradediscount – given in the bills). It heldthat incentives given by way of creditnotes at end of year were not deductibleunder the aforesaid Rule.The aforesaiddecision misses the point that discountneed not be given on transaction totransaction basis but could be givenas a volume discount at the end of adefinite period.

[2010] 28 VST 82 (Ker) HCK. Sadikali v. Commercial TaxOfficer (VAT), V Circle, Kozhikodeand others In the instant case thepetitioner was a dealer in timber andhad purchased timber logs from theForest Department of the StateGovernment. In the matter ofclaiming refund of input tax credit, theHon’ble High Court of Keralaobserved that the dealer havingproduced bills from ForestDepartment showing payment ofinput tax along with the copies ofseparate demand drafts through whichthe tax amount had been remitted theonus of burden of proof vested on thedealer was discharged. The Court heldthat the dealer could not be asked toproduce further evidence in form oftax remittance certificate from the

Department. The Assessing Officerwas required to conduct “such enquiryas it considered necessary” and thatit was the duty of the officer to crossverify. Welcome relief! To check thedepartment’s ever growing inclinationto conveniently shun its responsibilityby passing the buck (even otherwise alot of duties of the taxmen have beenconveniently passed on to thetaxpayers much to their chargin!)

INCOME TAX

PARTS DIGESTED:

a) 320 ITR – Part 5 to 7b) 321 ITR – Part 1c) 186 Taxman – Part 1 to 3d) 187 Taxman – Part 1 to 3e) 1 ITR(Trib) – Part 4 to 8f) 126 TTJ – Part 7g) 29 CAPJ - February (2nd),2010h) 41-B BCAJ – Part 5i) 58 TCA – Part 8

Reference/Description[2010] 320 ITR 526 (Bom)East India Hotels Ltd. & another v.CBDT & another In the instant casethe Hon’ble High Court of Bombayobserved that the services rendered bya hotel to its customers are notcovered under section 194C of theIncome-tax Act (IT Act, TDS oncontractors). The Court further wenton to hold that Circular no. 681 datedMarch 8, 1994 issued by the CBDTwas illegal and liable to be quashedin as much as it applied to paymentsmade by customers to the hotel foravailing certain facilities or amenities.By insertion of Explanation III tosection 194C the scope of expansionto the term work was limited only suchservices where the work culminated ina product.Therefore, no tax is requiredto be deducted at source in respect of

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TAX UPDATES JANUARY 2010

payment to be made to a hotel exceptin case of rent paid for booking theroom on a regular basis.

[2010] 320 ITR 542 (Delhi) HCCIT v. Smt. Rani Shankar MishraThe Hon’ble Delhi High Court in theinstant case held that the amountreceived by way of compensation fordenial of job on the basis of genderdiscrimination was not in the natureof ‘profit in lieu of salary under section17(3(iii) of the IT Act, but in fact wasa capital receipt. The Court observedthat the amount referred to in theaforesaid section was in connectionwith the employment with the personfrom whom it was received. Sub-clause (A) of the said section referredto a period prior to an assessee joiningemployment, whereas sub-clause (B)referred to a period after the cessationof an assessee’s employment. When inthe instant case there in fact did notexist any employer-employeerelationship as aforesaid, the periodafter and prior have no meaning.

[2010] 320 ITR 561 (SC) CIT v. (1)Kelvinator of India Ltd.(2) Eicher Ltd. The Hon’ble SupremeCourt in the context of section 147 ofthe IT Act (post its amendment in1989) and the insertion of the term‘reason to believe’ in the said section,observed that post 1st April 1989 thepower to reopen was much wider.However one needs to give aschematic interpretation to the words“reason to believe”, failing which,section 147 would only give arbitrarypowers to the AO to reopenassessments on the basis of a “merechange of opinion”, which howevercould not per se be the reason forreopening. Further it was observedthat there existed a conceptualdifference between power to reviewand power to reassess. The AO has

no power to review but has power toreassess. However the reassessmenthad to be based on fulfilment ofcertain pre-conditions and if theconcept of ‘change of opinion’ wereremoved, then in the garb ofreopening the assessment, reviewwould take place. The concept of‘change of opinion’ was an in-builttest to check abuse of power by theAO. After the aforesaid amendmentthe AO could reopen provided therewas ‘tangible material’ to come to theconclusion that there was escapementof income from assessment. Reasonsmust have a live link with theformation of the belief.The aforesaiddecision is a welcome decision whichhas read “no change of opinion” in“reason to belief” so as to protect theinterest of the assessee from thereview action of the assessing officer.

[2010] 321 ITR 49 (Karn)C I T(International Taxation) & anotherv. Illinois Institute of Technology(India) P. Ltd. The Hon’ble HighCourt of Karnataka held that therewas no liability to deduct tax at sourceu/s. 195 of the IT Act in a case wherethe payee was not earning any profitor income in India by conducting anytrade or business. In the instant casethe assessee had entered into anagreement with a foreign company inorder to impart distance education incertain faculties. The assesseeremitted the entire fees collected tothe foreign company and the foreigncompany was not earning any profitout of such receipts.The abovedecision has as soothing effect afterthe controversial Samsung case.

[2010] 321 ITR 132 (Ker) N. J. Jose& Co. (P.) Ltd. v. Assistant CIT &another In the matter of computing thebook profits u/s. 115J of the IT Act,the Hon’ble High Court of Kerala

observed that, as long as long-termcapital gains are a part of the profitincluded in the profit and loss accountprepared in accordance with Parts IIand II of Schedule VI to the CompaniesAct, the said gains could not beexcluded unless provided under theExplanation to section 115J(1A). In theabsence of any provision for exclusionof capital gains in the computation ofbook profit under the aforesaid section,the assessee was not entitled to the saidexclusion and that section 54E had noapplicability in the computation of thebook profit u/s. 115J.

[2010] 321 ITR 147 (Delhi)CIT v. Woodward Governor IndiaLtd. The Hon’ble High Court of Delhiheld that the provision for warrantyexpenses arrived at on the basis ofworking of average rate of warrantyexpenses is rational and scientific andtherefore allowable to the sales madeduring the year. However it was heldthat the assessee is not entitled toclaim warranty expenses on provisionbasis in respect of prior period saleswherein warranty expenses hadalready been allowed on actual basis.

[2010] 321 ITR 165 (Raj) CIT v.Lake Palace Hotels & Motels Ltd. Inthe instant case the assessee leased outa property for a period of 72 yearsunder a lease deed stipulating annualrent and also stipulating a sum of Rs.2.5 crores as deposit. The said depositas per the deed was to fetch interest@ 9% p.a. The AO contended that themarket rate of interest was between18-24% and therefore computed thatdifference between 9 and 18% to bethe capital gains. The Hon’ble HighCourt of Rajasthan held that unlikethe Wealth-tax Act there was noprovision u/s. 45 and 48 of the IT Actto bring deemed profits or gain to betaxable as a capital gain.

7 April2010

[2010] 186 Taxman 187 (AAR-NewDelhi) Dana Corporation, In reThe AAR in the instant case held thatif by the application of the provisionsof section 45 r.w.s. 48 of the IT Act,there does not arise any income, thensection 92 (computation of incomehaving regard to the arm’s lengthprice) does not come to the aid ofrevenue, even though the transactionis an international transaction.

[2010] 186 Taxman 208 (Delhi) HCCIT, Delhi-VI v. Teehdrive (India) (P.)Ltd. In the instant case the assesseeregistered with STPI was an exporterof computer software. For theassessment year under considerationthe assessee filed its return claimingdeduction u/s. 10B of the IT Act, whichwas rejected by the AO on the groundthat the assessee was not having itsown infrastructure and was using oldplant/machinery of another concern todevelop its software. The claim of theassessee was upheld by the CIT(A) onthe ground that as per the conditionsu/s. 10B it was not mandatory for theassessee to use its own infrastructureand so long as the software wasdeveloped by the assessee’s ownpersonnel/employees the said softwarebelonged to the assessee and thecondition u/s. 10B were satisfied. TheHon’ble High Court of Delhi furtherheld that in the instant case it was nota case of manufacture of any articlebut development and creation ofintellectual property, namely, softwareprogramme. The essential and maininputs for such developments were thatof the personnel belonging to theassessee, their intellect and creation ofthe aforesaid property. Therefore, useof computers would not be of muchsignificance.

[2010] 186 Taxman 233 (Kar.) HCCIT, Bangalore v. Brindavan

Beverages Ltd. The Hon’ble HighCourt of Karnataka held that theprovisions of section 234B and section234C of the IT Act are attracted even ina situation where the deemed incomeand liability to tax thereon is calculatedin terms of the provision u/s. 115JA.Inthe above case, it was held that the profitdirectly taken to capital reserve in thecase of profit on slump sale could beadded by the Assessing officer whilecomputing book profit.The aforesaiddecision in so far as it relates tocomputation of book profit requires areview as the same runs contrary to thedecision of the Supreme Court in ApolloTyres 255 ITR 273 SC.

[2010] 187 Taxman (SLP) 15 (SC)CIT, Delhi v. Delhi Public School TheSupreme Court has dismissed thespecial leave petition filed by theDepartment against the judgment in thecase of CIT (TDS) v. Delhi PublicSchool [2009] 318 ITR 234 (Delhi) HCwherein the Delhi High Court withreference to valuation of perquisitesunder Rule 3(5) of the Income TaxRules, had held that, the valuation offree educational facilities to children ofstaff is to be made with reference to costof such education in similar institutionsin or near the same locality and not withreference to the cost of education forother students in the same school.

[2010] 187 Taxman (BN-i) Part 2(P&H) HC CIT v. Satinder Pal SinghThe Hon’ble High Court of Punjab &Haryana in the context of determiningthe exclusion of agricultural land fromthe definition of capital asset as undersection 2(14)(iii) of the IT Act heldthat, the distance of 2Kms. from themunicipal limits of city of Khannahad to be taken in terms of approachby road and not as per straight linedistance on a horizontal plane. TheCourt contended that if the principle

of measurement of distance wasconsidered straight line distance on ahorizontal plane or as per crow’s flightthen it would have no relationshipwith the statutory requirement ofkeeping in view the extent ofurbanization!

[2010] 187 Taxman (BN-v) Part 2(Kar.) HC Asstt. CIT v. Dr. K. SatishShetty The Hon’ble High Court ofKarnataka in the context of section44AB (and to ascertain monetarylimit for the purpose of mandatory taxaudit) held that nowhere in theaforesaid section is there a stipulationthat in case an assessee is carrying onmany businesses then to calculate theturnover limit, the turnover of all thebusinesses need to be clubbed.

[2010] 187 Taxman 136 (Ker.) HCGirnar Industries v. CIT, CentralCochin The Hon’ble High Court ofKerala in the context of exemption u/s. 10A of the IT Act and theinterpretation of the meaning of theterm manufacture for the purposeobserved that, since the purpose ofexemption under section 10A – FTZ(read with section 10AA) was to giveeffect to the EXIM Policy of theGovernment (assessment year 2004-05), the definition of ‘manufacture’ ascontained in the aforesaid Policy wasapplicable for the purpose of section10A. Since ‘manufacture’ as definedunder the Policy had a wide andliberal meaning covering tea blendingas well, the blending and packing oftea qualified for exemption u/s. 10A.The Court further held that theamendment to section 10AA,whereby definition of ‘manufacture’as per section 2(r) of the SpecialEconomic Zones Act, 2005 wasinserted with effect from 10-2-2006was only clarificatory and the sameapplied to section 10A as well.

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April2010

[2010] 1 ITR (Trib) 807(Delhi)Growth Avenue Securities P. Ltd. v.Deputy CIT In the matter ofcomputing the book profits as persection 115JB of the IT Act, the DelhiTribunal observed that, only the itemsspecifically referred to in the aforesaidsection could be deducted from theprofit and loss account as prepared inaccordance with Parts II and II ofSchedule VI to the Companies Act.The exemption under section 54ECin respect of capital gains is anincludible item while calculating theprofits as aforesaid and therefore thereis no possibility of deducting onaccount of any other item by theAssessing Officer other than thosewhich has been explicitly provided for

in the section. Similar to thejudgement of the Kerala High Courtin the case of Jose & Co. (supra).

(2009) 126 TTJ (Mumbai) 892Keshav S. Phansalkar v. ITO TheMumbai Tribunal in the instant caseheld that the capital loss worked outby the assessee with indexation couldbe set off against long-term capitalgains computed without indexation.It observed that the option of theassessee to work out the gain arisingon transfer of long-term capital assetwith or without indexation wasdistinct from allowing the set off ofloss arising under one particularmethod of computation against gainarising on account of followinganother method of computation. Both

the methods were for the purpose ofdetermining the income from transferof long-term capital asset.

(2010) 41-B BCAJ 27: (2009) 34SOT 152 (Delhi) Addl.CIT v.Narendra Mohan Uniyal The DelhiTribunal in the context of section 54Fof the IT Act (exemption from capitalgains tax in case of investment inresidential house) observed that therewas no rider u/s. 54F that no deductionwould be allowed in respect ofinvestment of capital gains made onacquisition of land appurtenant to thebuilding or on the investment on landon which a building is beingconstructed thereon, it is not necessarythat such construction should be on theentire plot of land.

CA. Prasanna Kumar Dhas been elected as Professional

Director for Sree ThyagarajaCo-Operative Bank Ltd

CONGRATULATIONS

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Members are requested to kindly send their views andsuggestion on Exposure drafts – Accounting Standards10 & Accounting Standards 16 by April 15, 2010 [email protected] can be viewed at

AS-10:http://www.icai.org/resource_file/18399as10_ias16.pdf and

AS-16:http://www.icai.org/resource_file/18400as11_ias21.pdf

AnnouncementCPE course on

COMPUTER ACCOUNTING AND AUDITINGTECHNIQUES (CAAT)

Bangalore branch is conducting the CAAT course in the month of April/May 2010 as per the directions of TheCommittee on Information Technology, ICAI New Delhi. Interested members may send their name,

membership number and contact details with telephone number ande-mail ID to [email protected].

The details of the event and the course fees will be communicated seperately to registered membersCourse co-ordinator : CA H SHIVAKUMAR

e-mail : [email protected]

9 April2010

RECENT JUDICIALPRONOUNCEMENTSIN INDIRECT TAXESN.R. Badrinath, Grad C.W.A., F.C.A.,Madhur Harlalka, B. Com., F.C.A.

SERVICE TAXFiling of refund claim

The dispute in the present caserelates to refund of service taxunder Notification No. 41/2007-S.T. on input services used inexport of goods. The refund claimwas filed with the 60 days timelimit with the DeputyCommissioner of Service taxinstead of appropriate authorityunder the Central Excise. Theimpugned order extending benefiton the ground that re-filing ofclaim beyond time limit notrelevant. It was held that the claimfiled before the wrong authoritywithin limitation cannot be heldas filed beyond limitation whenboth authorities are working underthe same Department. TheRevenue’s appeal is accordinglyrejected.[Ms. Archana Wadhwa, Member(J) C.C.E., Ahmedabad vs.Gujarat Tea Processors andPackers Ltd. 2010 (17) S.T.R. 489(Tri. – Ahmd.)]

Stay / Dispensation of pre-deposit

The appellant was engaged in theactivity of lowering, laying,jointing and testing GRP pipes(which were manufactured bythem) at the customer’s site duringthe material period. Demand wasraised on service provided byappellant to Gujarat Industrial

Development Corporation by theappellant. Prima facie serviceprovided primarily for industrialpurpose and covered underrelevant service. Tribunaldecisions held that Service tax notliable on laying of pipesdistinguishable as they relate towater supply projects in the natureof civic amenity provided inpublic interest. Pre-deposit of Rs.50 lakhs directed. Pre-deposit ofpenalty and balance Service taxwaived. Section 65(25b) of theFinance Act, 1994 read withSection 35F of the Central ExciseAct, 1944 is as applicable toService tax vide Section 83 ofFinance Act, 1994.[Graphite India Ltd. vs.Commissioner of C. Ex., Nasik2010 (17) S.T.R. 459 (Tri. –Mumbai)]Service tax paid on GTA serviceand coal handling charges paid.The appellants provide operation,repair and maintenance contractfor power project of a companyfor power generation for itscaptive consumption. The term‘maintenance’ is not to be read inisolation of purport of contract,appellant operating plant also.Power cannot be generatedwithout coal and reaching of coalto the plant is essential. Coalhandling and delivery connectedwith power generation as also

transport. Prima facie realisationof demand to be stayed. Section35F of the Central Excise Act,1944 is as applicable to Servicetax vide Section 83 of the FinanceAct, 1994.[Korea Plant Service &Engineering Co. Ltd. vs. Commr.of C. Ex., Jaipur 2010 (17) S.T.R.466 (Tri. – Del.)]

Valuation

The case pertains to abatementunder Notification No. 1/2006-S.T. Cenvat credit availedsimultaneously with exemption /abatement during the month whencondition on non-availment ofcredit introduced. The credit isreversed with interest. Theimpugned order in favour of theassessee relying on precedentsthat reversal of credit amounts tonon-availment, sustainable.Sections 67 and 93 of the FinanceAct, 1994 as applicable.[Ms. Archana Wadhwa, Member(J) C.C.E., Vadodara vs. RamKrishna Travels Pvt. Ltd.2010(17) S.T.R. 487 (Tri. – Ahmd.)]

Penalty

The appellant, in this case, failedto pay the service tax on due dateand did not file Service tax – 3return on time. The service tax wascollected but the appellant was notaware of the head under which thetax had to be deposited. Servicetax was paid after confirmationfrom the Department and interestalso paid when pointed out.Service tax not deposited by theassessee due to bona fide belief.The impugned order upholdingpenalty under Section 76 of the

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TAX UPDATES - INDIRECT TAXES

Finance Act, 1994 set aside.[Deccan Mechanical & ChemicalIndus. Pvt. Ltd. vs. Commissionerof C. Ex., Pune 2010 (17) S.T.R.484 (Tri. – Mumbai)]

Clarification

The case pertains to theappealability of letter fromDepartment. The impugned orderrejects the appeal as notmaintainable against letter. Letterfrom Deputy Commissioner wasin response to appellant’s letterclarifying service tax liability. Theletter is not in the form of order orappealable order. If the appellantswere aggrieved, they could haveapproached the DeputyCommissioner for issuance of anappealable order. Accordingly, theappeal filed by the appellant isrejected.[JMC Project India Ltd. vs.Commissioner of Service Tax,Ahmedabad 2010 (17) S.T.R. 486(Tri. – Ahmd.)]

Writ Jurisdiction

The liability of payment ofService tax was not stipulated inthe agreement between parties.Letter or demand from respondentadmitting Service tax liability notproduced. The letter relied uponby the petitioner seekingconfirmation of reimbursement ofService tax not accepted by therespondent. Petitioner not entitledfor amount claimed towardsService tax, thereby, interest doesnot arise. The impugned caseinvolves substantial questions offact. Writ Jurisdiction notinvocable. The petitioner isentitled to civil remedies, ifavailable, under Article 226 of theConstitution of India.

Sections 111 and 112 of theCustoms Act, 1962 is asapplicable and the appeal wasdisposed off.[Ishwarlal Soni vs. Commissionerof Customs, Jamnagar 2010 (250)E.L.T. 429 (Tri. – Ahmd.)]

CENTRAL EXCISE

Limitation

The appellants are an ExportOriented Unit (EOU), engaged inthe manufacture and export of Por P medicaments. They procuredvarious goods for use in the EOUthrough import and from the localmarket. Goods were procuredduty free on the undertaking oftheir use in terms of the respectivenotifications, that is, notificationno. 53/97-Cus., dated 3-6-97 forimported goods and notificationno. 1/95-C.E., dated 4-1-95 forindigenous goods. It was held thatinadmissible exemptionrecoverable in terms of bond,without being restricted bylimitation prescribed in CustomsAct, 1962 and Central Excise Act,1944. Section 28 of the CustomsAct read with Section 11A of theCentral Excise Act, 1944 is asapplicable.[Dr. Reddy’s Laboratories Ltd. vs.Commr. of C. Ex., Hyderabad2010 (250) E.L.T. 369 (Tri. –Bang.)]

Manufacture

Does breaking of stone constitute‘manufacture’? Limestonepurchased in lumps and brokeninto small pieces. The processdoes not amounts to manufactureas per the Tribunal’s decision in1991 (54) E.L.T. 414 (Tribunal)upheld by Supreme Court

Further, the petitioner is notentitled to Service tax fromrespondent based on oral evidenceas such evidence, prima facie, isnot acceptable under Section 91of the Indian Evidence Act, 1872.Invocation of discretionaryjurisdiction by the High Court isto be based on the facts andcircumstances of the case. TheHigh Court is empowered toentertain writ petition if it isshown that there is somethingwhich goes to the root ofjurisdiction or a case of palpableinjustice.[Brahmaputra Infrastructure Ltd.vs. Delhi Development Authority2010 (17) S.T.R. 452 (Del.)]

CUSTOMS

Confiscation

Gold detained by Police assmuggled and was handed over tothe Customs. Statements recordedover a period of three months andsubsequent retraction whilereplying to show cause notice andnot sent through post, only anafterthought. The affidavits ofpersons concerned contradictoryand rejection thereof sustainable.The impugned gold of 16 to 18carat purity while gold ornamentsin India of more than 20 carats.There were discrepancies on thepurity of gold in the purchase billsproduced and gold seized.Evidences were rightly rejected inthe impugned order. The sourcefor gold not produced. Citeddecisions considered in impugnedorder as per remand directions. Itwas held that the confiscation wassustainable. Heavy penalty notimposable as gold absolutelyconfiscated and penalty reduced.

11 April2010

decision [1997 (96) E.L.T. A160(S.C.)]. The demand was set asideand the appeal allowed. Section2(f) and 11A of the Central ExciseAct, 1944 is as applicable.[Alagappa Cements (P) Ltd. vs.Commissioner of Central Excise,Trichy 2010 (250) E.L.T. 427 (Tri.– Chennai)]

VALUE ADDED TAX

Sales Tax

Sale was in the course of import.Goods were warehoused and notcleared on payment of CustomsDuty. Transfer of documents oftitle in favour of buyer prior toclearance of goods. Warehouseincluded in the definition of‘customs station’. Sale wasconsidered as sale in the course of

import and exempt. Section 2(ab),5(2) of the Central Sales tax Act,1956 read with Section 2(11),(13), 47, 68 of the Customs Act,1962.[State of Tamil Nadu vs. RajanUniversal Export (MFRS) Pvt.Ltd. 2010 (28) VST 279 (Mad)]

Inter-State Sale

The case pertains to inter-state saleor consignment sale. The Dealerproduced form F declaration,stock register, pattials, copies ofagreement with agents anddelivery notes. The form F wasrejected without cogent reasonand on the presumption of directsales to ultimate buyer in otherState not justified.[Lakshmi Trading Co. vs. JointCommissioner (Commercial

Taxes), Chepauk, Chennai 2010(28) VST 259 (Mad)]The Dealer in this case, producedrecords to show that goods weresent to agents in other States andcommission paid. The Declarationin form F was not doubted. Agentspaying local tax in other State.Goods neither manufactured tospecifications of, nor meant for,particular customer and that sameamount mentioned in sale invoicepaid to dealer by agents or thatthere was no specific clause inagreement that unsold goodsliable to be sent back to dealer. Nogrounds to hold the transactionsas inter-state sales. The petitionwas dismissed.[State of Tamil Nadu vs. KumaranMills Limited and Another 2010(28) VST 262 (Mad)]

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Senior professionals (CA) primarily in

audit practice (10 years post

qualification experience) required by a

Chartered Accountants firm in

Bangalore. Matching compensation

package will be ensured for the right

candidate with prospect of partnership

in near future based on ability and

performance.

E-mail : [email protected]

OR

[email protected]

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We require CAs / PE II candidates whohave completed their Articleship and

having 2 to 3 years of work experience.

Interested candidates may send theirdetailed resumes /profiles to :

[email protected]@ramadhyani.com

B.K.Ramadhyani & Co.,4B, Chitrapur Bhavan, 8th Main,15th Cross, Malleswaram,Bangalore -560 055Telephone No.080-2346 4700(6 lines)Fax No.080-2334 8964

Adv

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REQUIRED CHARTEREDACCOUNTANTS /INTER CA

12


April2010

BUDGET PROPOSALS INSERVICE TAX – PART ICA Rajesh Kumar T R, B Com, LL.B, FCA, DISA, CA ChandraShekar B D, B Com. LL.B, FCA, DISA

Budget day is the day everybodyviz., a business man, layman, salariedclass or anyone for that matter iswaiting to know what sort of changesare going to take place, which aregoing to affect them. It is said that thisBudget belongs to ‘Aam Aadmi’. Itbelongs to the farmer, theagriculturist, the entrepreneur and theinvestor. Even we, CharteredAccountants, are also interested in thebudget proposals, so that we canadvise our clients about the changesin the budget and how the financialplanning is to be done, be it direct orindirect taxes.

In this issue we shall discuss theservice tax proposals and changeswithout discussing the new categoryof services & changes in refundprovisions, which would be discussedin the next issue.

1. Commercial coaching andtraining –An Explanation is being added toovercome a spate of litigation ondate where the assessee/s hadtaken the contention that onlyinstitutes which are run on a profitmotive are only taxable, whichwas also upheld by number ofdecisions of Tribunal [Great LakesInstitute of Management Ltd. v.Commissioner — 2008 (10)S.T.R. 202 (Tri); ICFAI vs C.C.& C.E., 2009 (14) STR 220 (Tri)].This explanation clarifies the term‘commercial training or coachingcentre’ would also include any

centre or institute by whatevername called where training orcoaching is imparted forconsideration, whether are notthey are registered as trust, societyetc., and carrying on its activitywith or without profit motive.Therefore this will have lot ofimplication on various institutionsother than those who areproviding pre-school coaching orwho are issuing any certificate ordiploma or degree or anyeducational qualificationrecognised by law for the timebeing in force.

2. Residential Complex andIndustrial ConstructionServicesThis is one of the area thedepartment has created an utterchaos both for themselves as wellas the assessees. ContradictingCirculars and notifications wereissued in this regard time andagain putting assesses intojeopardy. This is a draconianprovision for the builders; they areharassed by the departmentofficials and also by thecustomers/prospective customers.Construction service wasintroduced from 10-09-2004 andfrom 01-06-2007 Work contractservice was introduced. CircularNo. 108/02/2009 dated28.01.2009 clarified that serviceprovided by a builder to acustomer is not liable to tax.

Now the newly insertedexplanation states thatconstruction of complex which isintended for sale, wholly or partly,by a builder or any personauthorized by the builder before,during or after construction shallbe deemed to be a service providedby the builder to the buyer. This isa deeming provision.However, even though there is adeeming provision that if thebuilder had not received anyamount prior to obtainingappropriate completion certificateby the competent authorities thensuch transactions would not bewithin the purview of the servicetax. This amendment seems to beprospective in nature as there isno mention about the effectivedate hence it cannot be said to beretrospective unless there isspecific mention about the same.This amendment could lead to anumber of doubts arising in ourminds. Few of them are as under-

a. Even after this amendment,whether the clarification given bycircular No. 108/02/2009 that theapartments/residential units builtfor personal use is excluded fromthe scope of residential complexas it is for personal use by buyerholds waters or not needs to beexamined.

b. There is no correspondingamendment under Works Contractservice. Does that mean if there isconstruction agreement wheresales tax is being paid; thetransaction is not in the nature ofbuilder and buyer model?

c. How would the taxability getdetermined for the projects underprogress?

13 April2010

SERVICE TAX – SERIES – PART VII

d. Constitutional validity of theconcept of ‘deeming fiction’?

3. Renting of Immovable propertyservice –

a. Renting of vacant land –The definition of renting ofimmovable property had certaininclusions and exclusions. One ofsuch exclusion was vacant land.In the transactions like long termleases on vacant land by Publicsector undertakings, industrialcorporations, etc under explicitunderstanding that lessee wouldconstruct factory or commercialbuilding on that land. In suchcases the ownership is nottransferred to the lessee and thusit is a service provided by thelessor to the lessee. Since theearlier definition had excluded thevacant land, the same was said tobe non-taxable service.In the Finance Bill 2010, there isa proposal to add to the inclusionlist specifically such cases that isto say it would cover vacant landgiven on lease or license forconstruction of building ortemporary structure at a later stageto be used for furtherance ofbusiness or commerce.

b. Renting – definition –amendmentThis is the hot topic of discussionat any forum on indirect taxes.Because of the decision of theHonourable Delhi High Court inthe case of Home Solutions RetailIndia Ltd & others [2009 (14) STR433 (Del)] clarified the taxableservice under this category coversonly services in relation to rentingand renting per-se. Though therewas a mention that it is not aservice, as there is no value

addition per-se, the decision wasrendered that it is not coveredwithin the scope of taxable servicedefinition. This had given scopefor a spate of litigations andrelying on the said decision thetenants stopped paying service taxto the landlords.In the Finance Bill 2010, there is aproposal giving a retrospect effectfrom 01.06.2007 whereby itspecifically covers ‘renting’ alongwith services in relation to renting.This is added along with validatingprovision allowing the departmentto recover the past dues to theGovernment in this regard viz.,service tax, interest and penalties.In the opinion of the paper writersthe Delhi High Court in the HomeSolutions case had not consideredfew other vital points, presentlypending before Supreme Court.Therefore it has to be seen howthe Supreme Court would givefinality to this amendment.How should we as CharteredAccountants advise our clientswho are tenants and landlordsafter the enactment of FinanceAct, 2010, till the verdict is givenby the Supreme Court? In theopinion of the paper writers thereare 3 options-

a. If the tenant is ready to pay theservice tax then the landlordcollects the same and remits it tothe department. However, it couldbe paid under protest.

b. Irrespective of the fact whethertenant pays the service tax or not,the landlord can pay the taxesunder protest to avoid interest andpenalty.

c. Await the decision of the SupremeCourt and face the consequence.

Each of the options may be chosendepending on the level of riskacceptable by the landlords/tenants.

c. Air Passenger Transport –Exemption is provided onStatutory taxes charged by anyGovernment (including foreigngovernments, where a passengerdisembarks) on air passengerwould be excluded from taxablevalue for the purpose of levy ofservice tax under Air PassengerTransport Service – NotificationNo 15/2010-ST

d. Erection, commissioning orinstallation-Exemption is given if a service isprovided in relation to thefollowing -

• Mechanized Food Grain HandlingSystems, etc.

• Equipment for settingup orsubstantial expansion of coldstorage and

• Machinery for initial setting up orsubstantial expansion of units forprocessing of agricultural, apiary,horticulture, diary, poultry,aquatic, marine or meat products.– Notification No 12/2010-ST

e. Packaged or Canned Software -Information Technology softwarepacked intended for single use isbeing exempt from the whole ofservice tax if the followingconditions are fulfilled viz.,

• License/document which givesright to use should be packedalong with software.

• Manufacturer, duplicator orperson holding the copyrights/importer should have dischargedduties of excise/customs on theamount received from the buyer.

14


April2010

• No exemption is claimed on thevalue attributable to right to usesoftware is claimed under CentralExcise or Customs.Basically, if we examine theconditions it appears that eitherexcise duty or customs duty is tobe paid on packaged software, toavail this exemption.[Notifications – 2/2010 & 17-2010-ST]

f. Transportation of Goods byRail –Exempts specified goods likedefence/military equipments,railway equipments/materials,food grains etc., transported by rail.Notification No - 08/2010-ST.

g. Vocational TrainingVocational Training Services wereexempted and definition for thesame was given as training orcoaching to enable the trainee toseek employment or undertakeself-employment, directly aftersuch training or coaching. It isamended w.e.f. 27.02.2010 toconfine the exemption only toinstitutes and industrial trainingCentres affiliated to the NationalCouncil of Vocational Training(NCVT) and offering courses inthe designated trades coveredunder Schedule I of TheApprentice Act, 1961. The Listfiguring under Schedule I of theAct covers engineering as well asnon-engineering skills/trade –Notification No - 3/2010-ST.

h. Group Personal AccidentSchemeExemption from Service tax,presently available to GroupPersonal Accident Schemeprovided by Government ofRajasthan to its employees, under

General Insurance Service isbeing withdrawn -NotificationNo. 5/2010-ST.

i. Sponsorship ServiceThe definition of sponsorshipspecifically excluded the servicesin relation to sports. The exclusionrelating to sponsorship pertainingto sports is being removed. Thiscould be because of big stakesinvolved in the recent IPLmatches.

j. Transportation of Goods byRoad –Exemption for transportation offruits, vegetables, eggs or milkunder GTA Services is extendedto include even ‘food grains andpulses’ – Notification No. 04/2010-ST.

k. Information TechnologySoftware Service -The taxability of InformationTechnology Software serviceswas confined only to cases wheresuch software was used forfurtherance of trade or commerceand was not covering suchservices which were not so used.

In the Finance Bill, it is proposedto remove such distinction and taxall the information technologysoftware service irrespective of itsusage.

l. Services provided in an airportor portThere was confusion amongst theassessees whether the servicesrendered at the port or airportshould be classified under specificcategory or general category. Thedefinition of port/airport used thewords ‘any person authorized byport/airport’ but there was nospecific procedure to authorize a

service provider to undertake aparticular activity. The assessee/scontention was that the airportauthority had not specificallyauthorized anybody for renderingthe services at the port/airport andpretext of which the assessees wereclaiming tax exemption. In theFinance Bill 2010, it is proposedto cover all the services providedwithin the port by any person underthe category of port service.Further it is also explained that ifthe entire services are providedwithin the port, the same has to beclassified as port/airport serviceswithout getting into classificationprinciples set out in Section 65A.

m. Transportation of passengers byair serviceThe taxation under this categorywas confined only to internationalflights and economy class wasexcluded. But in the Finance Bill2010, there is proposal to coverdomestic flights as well aseconomy class within the tax net.

n. Auction by GovernmentNew explanation has beeninserted which wants to giveclarity on the phrase ‘auction bythe Government’ in theAuctioneers service which wasintroduced earlier. The serviceexcluded ‘auction by theGovernment.’ This has createdsome confusion because therewere transactions which includedproperty that belonged to theGovernment auctioned by privatepeople or property of privatepeople auctioned by theGovernment. Now the proposalstates that ‘Auction by theGovernment’ means Governmentproperty being auctioned by anyperson acting as an auctioneer.

15 April2010

Sl No Particulars Existing Category New Category

1 Mandap keeper Performance outside Immovable propertyservice India situated

outside India2 Chartered Performance Recipient

Accountant, outside India outside indiaCost Accountant& CompanySecretary

o. Export of Service Rules, 2005i. One of the mandatory conditions

which had lead to lot of litigationhas been deleted but with aprospective date (27-02-2010)viz., ‘such service provided fromIndia and used outside India.’ Thisis a welcome move and will avoid

a lot of litigation in the future tocome. (Notification 6/2010-ST)

ii. Other amendments were withregard to the shift in the mannerof determination of export ofservices for certain categorieswhich are given below -(Notification 16/2010-ST)

NameCA. PUTTARAMAIAH V G

M.No. : 222115

OBITUARY

Adv

t.

Required Article Clerks

CA firm with 6 Partners require brilliant, sincere and committed Article clerks for our firm.

Required Audit / Tax Assistants

CA Firm with 6 Partners requires Accounts/Audit/Tax Assistants. Candidate should beCA / CA Intermediate qualified, brilliant, sincere, committed and should be

willing to commit for atleast one year.

Offering an attractive remuneration commensurate with experience and exposure in audits and direct taxes.

Interested students / candidates may please send their detailed resumes / bio-data to:

N S V M & AssociatesChartered Accountants

# 63/1, I Floor, Above Canara Bank,Railway parallel Road, Kumara Park West,

Bangalore – 560 020.Ph: 41506054 / 55 / 56

Email: [email protected] / [email protected]

16


April2010

INVESTMENT BANKING COURSEA u s t a l G r o u p

www.austalgroup.net/education

LIVE CLASSROOM TRAININGCOMPREHENSIVE FINANCIAL MODELING AND VALUATION ANALYSIS COURSE

Class Format

All 8 sessions are tailored for personalized instruction using the case study approach. Each student follows the bankerteaching the class and builds the financial models along with him. Each session is 4 hours long of in-class live training. Thetraining model is structured to allow students to also independently pursue investigations and searches on their own.

Course Materials

INTRODUCTION AND FINANCIAL STATEMENT ANALYSISCOMPREHENSIVE VALUATION ANALYSISINTEGRATED CASH FLOW MODELINGCOMPLETE LBO MODELINGMERGER (ACQUISITION) MODELING

INVESTMENT BANKING PROCESS AND BEST PRACTICES, INTERVIEW SKILLS AND RESUME REVISION

Course Offerings in Bangalore

Courses are conducted during the week and on weekends to accommodate working professionals and those attendingfull time programs. Please refer to our website for the most recent updated schedule.

For More Information

Please email us at [email protected] or sign up on our website at www.austalgroup.net/education.Please visit our website to view all our offerings. A

dvt.

SICASA Bangalore Branch of SIRC of ICAIOrganising

at Branch PremisesSPECIAL REVISION FOR MAY 2010 EXAMINATION FOR FINAL STUDENTS

Date Subject Faculty Time

10.04.10 Indirect Direct Taxes CA. T.R RAJESH KUMAR 08.30AM TO 01.00PMDiscussion on Amendments &Case Laws Applicable to MAY 2010

21.04.10 Direct Taxes CA. K.K. CHYTHANYA 08.30AM TO 01.00PMDiscussion on Amendments &Case Laws Applicable to MAY 2010

Delegate Fee: Rs. 50/- (for both programmes)

SPECIAL REVISION FOR MAY 2010 EXAMINATION FOR PEII / PCC/ IPCC STUDENTSDate Subject Faculty Time

11.04.10 Direct Taxes CA. Naveen Khariwal 10.00am to 05.00pm

Delegate Fee: Rs. 75/- (Lunch arranged at 1.00 pm)

CA. Shambhu Sharma H CA. Babu. K CA. Nithin MChairman Secretary Chairman, SICASA

17 April2010

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RANK HOLDERS - NOVEMBER 2009 EXAMINATIONPCC

Sl. No Reg No. Roll. No Name Marks Obtained Rank1 SRO0250193 19520 SHASHANK VISWANATHAN 410 212 SRO0228537 20394 SUSHEEN M BOHRA 401 293 SRO0253082 19577 YASHASWINI M 395 354 SRO0232673 20396 PRIYANKA J 394 365 SRO0252407 19633 POOJA B MEHTA 392 386 SRO0243840 20500 VENKATRAMAN R BHAT 385 45

IPCCSl. No Reg No. Roll. No Name Marks Obtained Rank1 SRO0249254 27950 ASHIKA HARIKRISHNAN 465 232 SRO0251869 28075 HARISH KUMAR J 447 383 SRO0224094 27979 SRINIDHI E S 441 444 SRO0268164 28310 SUMANA M RAO 439 465 SRO0242837 28031 SALVA RAHUL DEVCHAN BHAI 436 49

FINAL (OLD)Sl. No Reg No. Roll. No Name Marks Obtained Rank1 SRO0205719 12264 SHRUTHI B N 518 102 SRO0215868 11970 AJITH K G 505 193 SRO0139202 13032 NIKHIL BHARAT DEORA 504 204 SRO0215688 12022 RAMA RAJU N 476 46

Karnataka State Level CA ConferenceAnnouncementAnnouncement

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VenueJnana Jyothi Convention Center,

Central College CampusBangalore

DateSaturday 12th &

Sunday 13th June 2010

CPE:12Hrs.

Kindly block your dates

Congratulations from Managing Committee

18


April2010

Workshop on Legal & Financial Safeguards for Challenging Timeson Saturday, 17th April, 2010 at Branch Premises

Time: 09.00 am to 01.00 pm

Workshop on KVAT & CSTon Saturday, 24th April, 2010 at Branch Premises

Time: 09.30 am to 01.30 pm

Time Topic SpeakerCustomer Contract evaluation Mr. Karthik S A,Practical suggestions Founder, Quasar Legal

09.00 am to 01.00 pm ECGC Insurance Policy Mr. Ramesh Bhat,(Tea Break : 11.00 am) A tool to protect the export receivables AGM, ECGC, Bangalore

Director and Officers (D&O) Policy and Mr. Ashwin Sunder,Errors and Omissions (E&O) Policy Manager, Marsh India Insurance

Brokers

Time Topic SpeakerRecent Notifications under Mr. M. A. Maniyar,KVAT & CST Co-Ordinator - Commercial Taxes RIL

Karnataka09.30 am to 01.30 pmVAT & CST Amendments CA. Sanjay M Dhariwal(Tea Break : 11.30 am)Practical Issues KVAT & CST CA. S. Venkataramani S

Workshop on Service Tax - Recent Changeson Saturday, 1st May 2010 at Branch Premises

Time : 10.00 am to 05.30 pm

Time Topic Speaker Session Moderator10:00 am to 11:15 am Recent changes in the CA Naveen Rajpurohit

IT SectorCA Badrinath NR

11:30 am to 12:30 pm Recent changes in CA Deepak Kumar Jain BConstruction Industry

12.45 pm to 01.15 pm Panel Discussion2:15 pm to 3.30 pm Recent changes in the CA Madhur Harlalka

Mr. Gururaj BNCenvat Credit & ClassificationAdvocate3:45 pm to 5:00 pm Recent changes in Health CA. Anand N

Care Sector5.00 pm to 5.30 pm Panel DiscussionTea Break: 11.00am; Lunch : 01.15pm; Tea Break: 3.30pm.

For Registration contact Ms. Roopashree.Tel: 3056-3500/513, [email protected] , [email protected] Visit: www.icai-bangalore.org

Fee: Rs. 500CPE: 6hrs

Fee: Rs. 250CPE: 4 hrs

Fee: Rs. 250CPE: 4 hrs

Restricted to250 delegates



20


April2010

1 April · 3 April 2010 07.04.10 Basics of Business Valuation Branch Premises 2 Hrs Wednesday CA....

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Transcript of 1 April · 3 April 2010 07.04.10 Basics of Business Valuation Branch Premises 2 Hrs Wednesday CA....