E-News Letter - Baroda Branch of WIRC of ICAI

DISCLAIMER 

e-NewsLetter 

The Institute of Chartered Accountants of India 

(Setup by an Act of Parliament) 

VOL. VIII l SEPTEMBER 2011 

BARODA BRANCH OF WESTERN INDIAN CHARTERED ACCOUNTANTS STUDENTS' ASSOCIATION 

(WICASA) 

OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA 

Managing Committee Members 

CA. Pradeep Agrawal Chairman 9898560967 

Mr. Amit Muley Vice Chairman 9974621161 

Mr. Nandan Soni Secretary 9429257237 

Ms. Priyanka Thakkar Treasurer 9979100633 

CA. Ashish Parikh Ex-officio 9825231545 

Ms. Sheekha Kotak Member 9825312097 

Mr. Ravi Gandhi Member 9427983598 

Ms. Anshul Bhatia Member 9974627595 

Editorial Board 

CA. Pradeep Agrawal Editor 9898560967 

Ms. Anshul Bhatia Joint Editor 9974627595 

Mr. Amit Muley Member 9974621161 

Mr. Ajay Prasad Member 9925170598 

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA 

ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110002. 

Tel. : +91 (11) 39893989 � E-mail : president@icai.in �Website 

: www.icai.in 

WESTERN INDIAN CHARTERED ACCOUNTANTS STUDENTS' ASSOCIATION 

ICAI Bhawan, 27, Cuffe Parade, Post Box No. 6081, Colaba, Mumbai - 400 005. 

Tel. : +91 (22) 39893989 �Email : wirc@icai.in �Website 

: www.wirc-icai.org 

BARODA BRANCH OF WICASA 

“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012. 

Telefax : +91 (265) 2681115, 2680593 E-mail: wicasa.baroda@gmail.com 

Web : www.baroda-icai.org 

PRINTED AND PUBLISHED BY 

“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012. 

Telefax : +91 (265) 2680593, 2681115 E-mail: baroda@icai.in Web : www.baroda-icai.org 

Designed at Multiprints, 30/B, Gandhi Oil Mill Compound, Near BIDC, Gorwa, Vadodara - 390 016. 

The views and opinion expressed or implied in the Newsletter are those of the authors/contributors and do not 

necessarily reflect those of ICAI. Unsolicited articles and transparencies are sent at the owner's risk and the 

publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whether 

in part or in whole, without the consent of ICAI. 

Students are requested to kindly send article / paper of interest to wicasa.baroda@gmail.com. The same may 

be published in the newsletter subject to availability of space & editing. 

WICASA COMMUNITY : 

Be a part of the “WICASA Baroda” on FACEBOOK Community. Exchange views and news. Keep updated 

about ICAI Announcement and forthcoming events of WICASA. 

STUDY CIRCLE - FOR THE STUDENT'S, BY THE STUDENT'S, OF THE STUDENT'S: 

Join now .... where in students can exchange knowledge with the help of group discussion. Contact Mr. Amit 

Muley (M) 9974621161, Mr. Manish Gandhi (M) 9824385565, Mr. Ashish Agrawal (M) 9722852279 

WICASA HELPLINE : 

Students are invited to send their feedback suggestions or grievances to wicasa.baroda@gmail.com or 

contact Mr. Amit Muley (M) 9974621161 

Taking Learning to a New Dimension…….. 

� � 

Chairman’s Communication 

The month of September will began with 

celebration of Teacher’s day on 5th of this month. 

In India Teachers day is dedicated to Dr. Sarvepalli 

Radhakrishnan, who was a strong believer of 

education and was one of the greatest scholar and 

teacher of all times, apart from being the President 

of India. As a tribute to this great teacher, his 

birthday is observed as Teachers Day in India. 

The role of a teacher in a society is both noteworthy and valuable. If you give 

a man a bread, you feed him for a day, but if you teach a man how to make a 

bread, you feed him for the Lifetime. - that’s the role which a teacher plays , 

so, at this occasion, we must be thankful to all our teachers and guides for 

their constructive support to us. 

Now, coming to the activities for this month we have a Series - II of 

Revisionary Classes for IPCC and Final as well. The revisionary sessions 

this time is an exhaustive program, which will be carried out throughout the 

month. The sessions will be taken up by eminent faculties in their relevant 

subjects. And I hope the students will try to take maximum benefit from 

these sessions. 

Besides this, we will continue to have regular activities including study 

circle, lecture meets and industrial visits. 

Wishing you all the best 

CA. Pradeep Agrawal 

ICAI ANNOUNCEMENTS 

On Line Articles Placement Portal for selection of Articled Assistants by CA Firms. 

August 19th, 2011 

The services of Online Placement Portal are active for facilitating the placement of 

Articles in CA Firms on pan India basis. Both eligible CA firms and candidates who are 

willing to avail of this facility shall have to register themselves online through the 

Articles Placement Portal at http://bosapp.icai.org. The services on the Portal would be 

available for two months from the date of registration by the firms as well as students. 

MCA ANNOUNCEMENTS 

MCA INTRODUCES NEW FEATURE TO TRACK THE COMPANIES IN WHICH A 

PERSON IS/WAS A DIRECTOR 

Companies in which a person is/was a director 

Recently, the Ministry of Corporate Affairs has released the Defaulters list and since 

then all of us including directors are getting much cautious to track the detail of defaulter 

companies and even directorship in other companies. In this regard we wish to bring in 

your kind knowledge that MCA has now introduced a welcome feature for the registered 

users of MCA21 to track not only the details of all the Companies in which a person 

is/was a director but also his designation, date of appointment /cessation and 

defaulting status of that company. 

To access these details you have to take following steps:- 

1. Login to following website :- www.mca.gov.in/MCA21/ 

2. After Login Under the Main Menu ‘Services‘ You have to click the sub-menu 

‘Companies in which a person is/was a director‘ (As Shown in Pic below) after 

clicking the same you have to enter DIN etc of Director and you will get the detail of 

all the Companies in which the person is or was director. 

SUCCESS


FORTHCOMING EVENTS 

Revisionery Series- II for IPCC/PCE- Nov-11 Exam 

Date & Day : Sept. 2011 

Venue : ICAI Bhawan 

Revisionery Series - II for CA Final- Nov-11 Exam 

Date & Day : Sept. 2011 


Teacher's Day Celebration 

Date & Day : 05.09.2011, Monday 

Time : 09.00 to 09.30 hrs 


Industrial Visit 

Date & Day : 06.09.2011, Tuesday 

Time : 10.30 to 12.30 hrs 

Venue : Baroda Dairy, Makarpura, Baroda 

Industrial Visit 

Date & Day : 09.09.2011, Friday 

Time : 14:00 to 16:00 hrs 

Venue : Oriental Insurance Co Ltd- Corporate 

Business Unit, Kalaghoda, Baroda 

Study Circle Meeting 

Date & Day : 12.09.2011, Monday 

Time : 18.30 to 20.30 hrs 

Subject : Overview of XBRL 

Speaker : Mr. Prateek Patel, IPCC Student 


How to track your Income tax Refund online 

Contributed By: Mr. Ankit Daluka (CA Final Student) 

The Income Tax Department entertains queries for all assessees 

regarding the refunding of income tax through the Tax Information 

Network (TIN). The SBI has been appointed as the refund banker, 

which processes refunds and routes them to the assessees’ bank 

accounts. If the assessee does not choose direct credit, a cheque is 

sent. This facility also helps track the status of the parcel that has been 

despatched by speed post. All refunds are handled by the Central 

Processing Centre (CPC) at Bangalore. 

Processing 

If the processing of the refund has not been completed by your 

assessing officer, or if there is no refund payable to you for that year, 

you will get a message saying so. 

Refund details 

If there is a refund, you will get details showing your refund reference 

number, the date of credit to your bank account or the date of 

despatch of the cheque by speed post, and the speed post reference 

number, if applicable 

E-mail 

You can submit your reference number and e-mail ID on the speed 

post tracker screen. You will receive an e-mail when your parcel has 

been received. 


Baroda Branch of WICASA of The Institute of Chartered Accountants of India 

Points to note 

Status check: You can check if your refund has been sent to the SBI, 

the refund banker, by logging into your e-filing account. 

Payment mode: Refunds are being sent in following two modes: 

RTGS / NECS: To enable credit of refund directly to the bank account, 

Taxpayer’s Bank A/c (at least 10 digits), MICR code of bank branch 

and correct communication address is mandatory. 

Paper Cheque: Bank Account No, Correct address is mandatory. 

Error notification: If there is an error in the refund or in case of any 

other query, the assessee can write to CPC Bangalore, quoting the 

refund reference number. 

Only e-payments by Public Sector Banks 

Contributed By: Ms. Pooja Agrawal (CA Final Student) 

Move aimed at speeding up process, checking corruption in funds’ 

transfer. 

The Union finance ministry has told all state-owned banks and 

financial institutions to make payments only electronically from next 

month. 

The move is aimed at checking corruption in transfer of funds through 

cheques and making the entire process transparent and faster. In a 

circular to all 35 state-run banks and financial institutions, the 

ministry said they must not make any payment through cheques from 

September 1. 

The ministry is in touch with insurance companies as well, to extend 

the scope of e-payment to all their payees. 

As part of its e-governance initiative, the ministry says it has asked 

these bodies to go for paperless fund transfer so that irregularities in 

payments through cheques to various parties, such as employees, 

vendors, customers and social sector schemes can be checked. 

“Disbursal of funds through cheques often gives rise to corruption 

and the payment to the beneficiary is delayed. There have been 

instances where a cheque is not issued on time or the payment has 

not reached the beneficiary. E-payment will address all those issues,” 

said a ministry official. 

However, for people who do not have a bank account, banks will still 

be required to make payments through modes other than electronic. 

Some bank executives expressed apprehension. They said most 

banks were already using e-payment wherever possible, but in a few 

cases it was not possible to do so. 

Both ministry officials and bank executives agreed mandatory 

electronic transfers would minimise corrupt practices, as money 

would be passed without any human intervention. There will be no 

middlemen and no pilferage in the process of sending the money to 

the actual beneficiary. Discontinuation of the use of cheques would be 

economical as well for banks, since it would reduce paper cost. 

“E-payment will be good for both the beneficiary and the remitter. It 

will ensure smooth and speedier flow of money. At Punjab National 

Bank, we are already using this for all kinds of payments,” said the 

bank’s chairman and managing director, K R Kamath. 

Punjab & Sind Bank executive director P K Anand said the use of 

technology in disbursal of payments would bring better transparency 

and efficiency into the system. 


02 

SUCCESS


ROC – Name Availability Guidelines, 2011 

Contributed By: Mr. Kunal Ahuja, (CA Final Student) 

General Circular No. : 45/2011 

In supercession of all the previous circulars and instructions issued 

by Ministry of Corporate Affairs from time to time regarding name 

availability, the applicants andRegistrar of Companies are advised to 

adhere following guidelines while applying or approving a name: 

1. As per provisions contained in Section 20 of the Companies 

Act, 1956, no company is to be registered with undesirable 

name. A proposed name is considered to be undesirable if it 

is identical with or too nearly resembling with: 

(i) Name of a company in existence and names already approved 

by the Registrar of Companies; 

(ii) Name of a LLP in existence or names already approved by 

Registrar of LLP; or 

(iii) A registered trade-mark or a trade mark which is subject of an 

application for registration, of any other person under the Trade 

Marks Act, 1999. 

2. While applying for a name in the prescribed e-form-1A, using 

Digital Signature Certificate (DSC), the applicant shall be 

required to furnish a declaration to the effect that: 

(i) he has used the search facilities available on the portal of the 

M i n i s t r y o f C o r p o r a t e A f f a i r s ( M C A ) i . e . , 

www.mca.gov.in/MCA21 for checking the resemblance of the 

proposed name(s) with the companies and Limited Liability 

Partnerships (LLPs) respectively already registered or the 

names already approved. 

(ii) the proposed name(s) is/are not infringing the registered 

trademarks or a trademark which is subject of an application for 

registration, of any other person under the Trade Marks Act, 

1999; 

(iii) the proposed name(s) is/are not in violation of the provisions of 

Emblems and Names (Prevention of Improper Use) Act, 1950 

as amended from time to time; 

(iv) the proposed name(s) is not such that its use by the company 

will constitute an offence under any law for the time being in 

force. 

(v) the proposed name is not offensive to any section of people, 

e.g., proposed name does not contain profanity or words or 

phrases that are generally considered a slur against an ethnic 

group, religion, gender or heredity; 

(vi) he has gone through all the prescribed guidelines, understood 

the meaning thereof and the proposed name(s) is/are in 

conformity thereof; 

(vii) he undertakes to be fully responsible for the consequences, in 

case the name is subsequently found to be in contravention of 

the prescribed guidelines. 

3. There is an option in the e-form 1A for certification by the 

practicing Chartered Accountants, Company Secretaries and 

Cost Accountants, who will certify that he has used the search 

facilities available on the portal of the Ministry of Corporate 



Affairs (MCA) i.e., www.mca.gov.in/MCA21 for checking the 

resemblance of the proposed name(s) with the companies and 

Limited Liability Partnerships (LLPs) respectively already 

registered or the names already approved and the search report 

is attached with theapplication form. The professional will also 

certify that the proposed name is not an undesirable name 

under the provisions of section 20 of the Companies Act, 1956 

and also is in conformity with Name Availability Guidelines, 

2011. 

4(i) Where e-form 1A has been certified by the professional in the 

manner stated at ‘3’ above, the name will be made available by 

the system online to the applicant without backend processing 

by the Registrarof Companies (ROC). This facility is not 

available for applications for change of name of existing 

companies. 

(ii) Where a name has been made available online on the basis of 

certification of practicing professional in the manner stated 

above, if it is found later on that the name ought not to have been 

allowed under provisions of section 20 of the Companies Act 

read with these Guidelines, the professional shall also be liable 

for penal action under provisions of the Companies Act, 1956 in 

addition to the penal action under Regulations of respective 

professional Institutes. 

(iii) Where e-form 1A has not been certified by the professional, the 

proposed name will be processed at the back end office of ROC 

and availability or non availability of name will be communicated 

to the applicant. 

5. The name, if made available, is liable to be withdrawn anytime 

before registration of the company, if it is found later on that the 

name ought not to have been allowed. However, ROC will pass a 

specific order giving reasons for withdrawal of name, with an 

opportunity to the applicant of being heard, before withdrawal of 

such name. 

6. The name, if made available to the applicant, shall be reserved 

for sixty days from the date of approval. If, the proposed 

company has not been incorporated within such period, the 

name shall be lapsed and will be available for other applicants. 

7. Even after incorporation of the company, the Central 

Government has the power to direct the company to change the 

name under section 22 of the Companies Act, 1956, if it comes 

to his notice or is brought to his notice through an application 

that the name too nearly resembles that of another existing 

company or a registered trademark. 

8. In determining whether a proposed name is identical with 

another, the following shall be disregarded: 

(i) The words Private, Pvt, Pvt., (P), Limited, Ltd, Ltd., LLP, Limited 

Liability Partnership; 

(ii) The words appearing at the end of the names – company, and 

company, co., co, corporation, corp, corpn, corp.; 

(iii) The plural version of any of the words appearing in the name; 

(iv) The type and case of letters, spacing between letters and 

punctuation marks; 

(v) Joining words together or separating the words, as this does not 

make a name distinguishable from a name that uses the similar, 


03 

SUCCESS



separated or joined words. Such as Ram Nath Enterprises Pvt. 

Ltd. will be considered as similar to Ramnath Enterprises Pvt. 

Ltd.; 

(vi) The use of a different tense or number of the same word, as this 

does not distinguish one name from another. Such as, Excellent 

Industries will be similar to Excellence Industries and similarly 

Teen Murti Exports Pvt. Ltd. will be to Three Murti Exports Pvt. 

Ltd.; 

(vii) Using different phonetic spellings or spelling variations, as this 

does not distinguish one name from another. For example, J.K. 

Industries limited is existing then J and K Industries or Jay Kay 

Industries or J n K Industries or J & K Industries will not be 

allowed. Similarly if a name contains numeric character like 3, 

resemblance shall be checked with ‘Three’ also; 

(viii) The addition of an internet related designation, such as .COM, 

.NET, .EDU, .GOV, .ORG, .IN, as this does not make a name 

distinguishable from another, even where (.) is written as ‘dot’; 

(ix) The addition of words like New, Modern, Nav, Shri, Sri, Shree, 

Sree, Om, Jai, Sai, The, etc., as this does not make a name 

distinguishable from an existing name such as New Bata Shoe 

Company, Nav Bharat Electronic etc. Similarly, if it is different 

from the name of the existing company only to the extent of 

adding the name of the place, the same shall not be allowed. For 

example, ‘Unique Marbles Delhi Limited’ can not be allowed if 

‘Unique Marbles Limited’ is already existing; Such names may 

be allowed only if no objection from the existing company by 

way of Board resolution is produced/ submitted; 

(x) Different combination of the same words, as this does not make 

a name distinguishable from an existing name, e.g., if there is a 

company in existence by the name of “Builders and Contractors 

Limited”, the name “Contractors and Builders Limited” should 

not be allowed; 

(xi) Exact Hindi translation of the name of an existing company in 

English especially an existing company with a reputation. For 

example, Hindustan Steel Industries Ltd. will not be allowed if 

there exists a company with name ‘Hindustan Ispat Udyog 

Limited’; 

9. In addition to above, the user shall also adhere to following 

guidelines: 

(i) It is not necessary that the proposed name should be indicative 

of the main object.; 

(ii) If the Company’s main business is finance, housing finance, 

chit fund, leasing, investments, securities or combination 

thereof, such name shall not be allowed unless the name is 

indicative of such related financial activities, viz., Chit Fund/ 

Investment/ Loan, etc.; 

(iii) If it includes the words indicative of a separate type of business 

constitution or legal person or any connotation thereof, the 

same shall not be allowed. For eg: co¬operative, sehkari, trust, 

LLP, partnership, society, proprietor, HUF, firm, Inc., PLC, 

GmbH, SA, PTE, Sdn, AG etc.; 

(iv) Abbreviated name such as ‘BERD limited’ or ‘23K limited’ 


cannot be given to a new company. However the companies 

well known in their respective field by abbreviated names are 

allowed to change their names to abbreviation of their existing 

name (for Delhi Cloth Mills limited to DCM Limited, Hindustan 

Machine Tools limited to HMT limited) after following the 

requirement of Section 21 of the Companies Act, 1956. Further, 

if the name is only a general one like Cotton Textile Mills Ltd., or 

Silk Manufacturing Ltd., and not specific like Calcutta Cotton 

Textiles Mills Limited or Lakshmi Silk Manufacturing Company 

Limited, the same shall not be allowed; 

(v) If the proposed name is identical to the name of a company 

dissolved as a result of liquidation proceeding should not be 

allowed for a period of 2 years from the date of such dissolution 

since the dissolution of the company could be declared void 

within the period aforesaid by an order of the Court under 

section 559 of the Act. Moreover, if the proposed name is 

identical with the name of a company which is struck off in 

pursuance of action under section 560 of the Act, then the same 

shall not be allowed before the expiry of 20 years from the 

publication in the Official Gazette being so struck off since the 

company can be restored anytime within such period by the 

competent authority; 

(vi) If the proposed names include words such as ‘Insurance’, 

‘Bank’, ‘Stock Exchange’, ‘Venture Capital’, ‘Asset 

Management’, ‘Nidhi’, ‘Mutual fund’ etc., the name may be 

allowed with a declaration by the applicant that the requirements 

mandated by the respective Act/ regulator, such as IRDA, RBI, 

SEBI, MCA etc. have been complied with by the applicant; 

(vii) If the proposed name includes the word “State”, the same shall 

be allowed only in case the company is a government company. 

Also, if the proposed name is containing only the name of a 

continent, country, state, city such as Asia limited, Germany 

Limited, Haryana Limited, Mysore Limited, the same shall not 

be allowed; 

(viii) If the proposed name contains any word or expression which is 

likely to give the impression that the company is in any way 

connected with, or having the patronage of, the Central 

Government, any State Government, or any local authority, 

corporation or body constituted by the Central or any State 

Government under any law for the time in force, unless the 

previous approval of Central Government has been obtained for 

the use of any such word or expression; 

(ix) If a foreign company is incorporating its subsidiary company, 

then the original name of the holding company as it is may be 

allowed with the addition of word India or name of any Indian 

state or city, if otherwise available; 

(x) Change of name shall not be allowed to a company which is 

defaulting in filing its due Annual Returns or Balance Sheets or 

which has defaulted in repayment of matured deposits and 

debentures and/or interest thereon; 

10. These guidelines and revised e-form 1A are likely to be 

implemented with effect from 24th July, 2011. 

11. This issues with the approval of competent authority. 


04 

SUCCESS


IMPORTANT JUDGEMENTS IN DIRECT TAXES 

Contributed by : Mr. Akash Yadav (CA Final Student) 

a) Despite bar in Proviso to s. 14A, s. 147 reopening for earlier years valid 

For AY 2000-01, the assessee filed a return on 30.11.2000. As s. 14A was 

inserted subsequently by FA 2001 (w.r.e.f 1.4.62) and was tabled in 

Parliament on 28.2.2001, the assessee did not make any disallowance u/s 

14A. The AO also did not make a disallowance in the s. 143 (3) order passed 

on 7.3.2003. After the expiry of 4 years, the AO sought to reopen the 

assessment to make a disallowance u/s 14A. The assessee challenged the 

reopening on the ground that (i) under the Proviso to s. 14A, a reopening u/s 

147 for AY 2001-02 & earlier years was not permissible, (ii) as s. 14A was 

not on the statute when the ROI was filed, there was no failure to disclose & 

(iii) as the AO had also sought to rectify u/s 154, he could not reopen u/s 147. 

The High Court dismissed the Writ Petition inter alia on the ground that “the 

Proviso to s. 14A bars reassessment but not original assessment on the 

basis of the retrospective amendment. Though the ROI was filed before s. 

14A was enacted, the assessment order was passed subsequently. The AO 

ought to have applied s. 14A and his failure has resulted in escapement of 

income. The object and purpose of the Proviso is to ensure that the 

retrospective amendment is not made as a tool to reopen past cases which 

have attained finality“. On appeal by the assessee to the Supreme Court, 

HELD dismissing the SLP: 

Statutory Dates August 2011 Events 


SEPT. 2011 


Date Day Events Venue Atten. 

02.08.2011 Tuesday Fun with BIG FM RJ - Tejal Jani ICAI Bhawan, Baroda 60 

02.08.2011 Tuesday Branch Level Elocution Competition - 2011 ICAI Bhawan, Baroda 15 

03.08.2011 Wednesday Career Counseling Program ICAI Bhawan, Baroda 300+ 

04.08.2011 Thursday Career Counseling Program Godhra 150+ 

04.08.2011 Thursday Career Counseling Program P K High School, Kalol 150+ 

04.08.2011 Thursday Study Circle Meeting ICAI Bhawan, Baroda 15 

05.08.2011 Friday Educational Tour Sardar Sarovar Dam,Kevadia 63 

06.08.2011 Saturday Industrial Visit Shroff Engineering Ltd 25 

07.08.2011 Sunday Friendships Day celebration with BIG FM RJ Hiren ICAI Bhawan,Baroda 75+ 

07.08.2011 Sunday Career Counseling Program Kadva Patidar Samaj Wadi, Sama, Baroda 1000+ 

08.08.2011 Monday Press Conference for IPCC Results ICAI Bhawan, Baroda 75+ 

15.08.2011 Monday 64th Independence Day Celebration ICAI Bhawan, Baroda 50+ 

17.08.2011 Wednesday Industrial Visit ABB India Ltd 23 

18.08.2011 Thursday Study Circle Meeting ICAI Bhawan, Baroda 10 

25.08.2011 Wednesday Pop the Question - Current Affairs 3rd Round ICAI Bhawan, Baroda 5 

25.08.2011 Wednesday Study Circle Meeting ICAI Bhawan, Baroda 10 

27.08.2011 Saturday Felicitation of the All India rankers and the newly ICAI Bhawan, Baroda 75+ 

qualified chartered accountants 

Contributed by : 

Mr. Ajay Prasad (CA Final Student) 

sun mon tue wed thu fri sat 

1 2 3 

4 5 6 7 8 9 10 

11 12 13 14 15 16 17 

18 19 20 21 22 23 24 

25 26 27 28 29 30 

In our view, the re-opening of assessment is fully justified on the facts and 

circumstances of the case. 

Honda Siel Power Products Ltd vs. DCIT (Supreme Court) 

b) If AO has allowed s. 10A deduction, DRP cannot withdraw it 

The assessee claimed deduction of Rs. 32.18 crores u/s 10A. The AO 

passed a draft assessment order u/s 144C in which he allowed s. 10A 

deduction though he reduced the quantum by Rs. 44.49 lakhs. When the 

assessee filed objections before the Dispute Resolution Panel (“DRP”), it 

took the view that the assessee was not at all entitled to s. 10A deduction as it 

was engaged in “research & development”. On the alternative plea that the 

assessee was engaged in providing “engineering design services”, the DRP 

directed the AO to examine the claim on merits. The assessee filed a Writ 

Petition claiming that the directions given by the DRP was beyond 

jurisdiction. This was dismissed by the single judge. On appeal by the 

assessee, HELD allowing the appeal: 

(i) As the AO had accepted that the assessee was eligible for s. 10A 

deduction and had only proposed a variation on the quantum, the DRP 

had no jurisdiction to hold that the assessee was not at all eligible for s. 

10A deduction; 

(ii) The DRP’s direction that the AO should decide the alternate claim of the 

assessee having regard to the material is also without jurisdiction. If 

such orders and directions are permitted to be allowed, it would defeat 

the object of the alternate dispute resolution. 

GE India Technology Centre Pvt Ltd vs. DRP (Karnataka High Court) 

Service Tax Payment in Form GIR7 & Excise Duty Payment for the 

month of August (6th in case of electronic payment, otherwise 

due date in 5th) 

TDS (Form 280/281)/TCS payment for the month of August. 

Excise return (ER 1) for the month of August 2011, ER-6 Monthly 

Return U/R9A(3) of CCR, 2004 

PF payment for the month of August. 

VAT & CST monthly payment & filing of VAT & CST returns for 

the month of August. 

ESI remittance for the month of August. 

PF monthly return for the month of August. 


05 

SUCCESS 

Professional Tax payment for the month of August.




Aashka Bhatt 

1st Runner up 

(Elocution) 

PAPER PRESENTERS IN NATIONAL STUDENTS CONFERENCES 

Tanmay Buch 

Indore 

Pankaj Agrawal 

Kolkatta 

Milind Joshi 

Ludhiana 

PHOTO FLASH 

REGIONAL LEVEL ELOCUTION & QUIZ COMPETITIONS - 2011 AT MUMBAI 

Anagha Dandekar 

2nd Runner up 

(Elocution) 

Kunal Saraiya 

CA Final (50th Rank) 

Niyati Badani 

(Elocution) 

Krupali Upadhyay 

IPCC (25th Rank) 


06 

SUCCESS 

Fayazan Dabhoiwala 

1st Runner up 

(Quiz) 

ALL INDIA RANKER'S IN MAY-11 FROM BARODA CENTER 

Ukti Shah 

PCC (41st Rank) 

Vinay Uppin 

1st Runner up 

(Quiz) 

Krati Sankhlecha 

CPT (10th Rank) 

Congratulations

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