Issue #106

Technology work for business







Govt. Launches 22 new “Digital India” initiatives

The Govt. launched 22 new services under Digital India Programme while extending the scope of existing projects. The new initiatives include electronic development of an operating system to support test-to-speech recognition for nine regional languages. The government further announce the setting up of eight new technology parks.

Financial Inclusion core focus of our Govt.: Mr. Modi

While inaugurating the National conference, PM Narendra Modi admitted that Union government’s core focus lies in financial inclusion. ”We want to create job-creators, not job-seekers… Those at the bottom of the pyramid need to be made stonger”, said Modi while addressing 1200 Dalit entrepreneuers.

ICAI convocation will be held on 24th January,2016

In order to promote a sense of comradeship among members and for bringing them closer to the Institute, the Institute of Chartered Accountants of India (ICAI) organize Convocations for distributing certificates to the newly qualified members.

  • No LPG subsidy for consumers with annual taxable income more than Rs. 10 Lakh
  • Delloit, KPMG, PWC empaneled for for RBI’s information system audit.
  • Mutual Funds have made FATCA/ CRS details to be mandatorily updated new folio is created w.e.f. 1st November 2015.
  • Swaccha Bhrat cess garners Rs. 329 Cr. in a month.
  • Bank employees to hold all India strike on 8th Jan 2016
  • Rs.1 Cr fraud reporting threshold brings clarity for auditors- ICAI
  • GST has the potential to improve tax compliance & boosts the GDP growth by 2 %.


International Section

Apple to pay $ 347 mn Tax evasion

Apple to pay $ 347 mn Tax evasion, agreed to pay $ 347 million to the Italian tax authorities to settle a tax dispute. Apple’s Italian subsidiary was proved guilty of evading corporate tax of $ 962 million between 2008-2013 by transferring its profits to Ireland, where tax rate is lower than Italy. However, Italey agreed to close the case at one-third of the total amount evaded.

Australia: Consultation opens on Serious Data Breach Notification Bill

Australia is one step closer to a mandatory data breach notification scheme. If implemented the new law will require businesses and Federal Government bodies to notify serious data breaches to the Australian Information Commissioner and affected individuals.

“Naya Avatar”


We are happy to announce & share this great news with you all that we are coming up with a brand new Avatar for your own CADashboard.

You can take this as our resolution of the new year for our organization to make this happen for our very own customers. With the new application, life is going to be much more Simpler, Fast & in Control. We look forward to have many of you on this journey with us.

Looking forward to reach you & grab your workstations soon !!!!


Want to know more @ our New Avatar & how that can help you

28th January 2015

On the below link, Join us to & get yourself ready for the power drive.

Congratulations to all the Winners of ICAI Election from CADashboard Team.


We wish you lot of success & many more big achievements in your professional tenure!!!

We are Social @ CADashboard.

Recently conducted a seminar @Dhule which was focused on how you can leverage Information technology & Cloud based platform for your Office

Proud to share that it was an amazing success and we have received an fantabulous response from all the professionals @ Dhule.

Some glimpse of the event.

We are happy to reach @ your study circle/seminars in CPE meetings and share our knowledge which can be of a great benefit to you & your business entity.

If you wish to conduct such seminars or would like to know more details @ it please reach us on


The Commissioner Of Income Tax Vs. Whirlpool Of India Ltd. (HC-Delhi)(22 Dec, 2015)

Held: The Revenue has been unable to demonstrate by some tangible material that there is an international transaction involving AMP expenses between WOIL and Whirlpool USA. In the absence of that first step, the question of determining the ALP of such a transaction does not arise. In any event, in the absence of a machinery provision it would be hazardous for any TPO to proceed to determine the ALP of such a transaction since BLT has been negative by Court as a valid method of determining the existence of an international transaction and thereafter its ALP. Assessee’s Appeal allowed.

raised by the Revenue in the appeals are of academic importance and hence deserve to be rejected. Appeals dismissed


Content right to :eJurix


The Principal Commissioner Vs M/S. Essar Oil Limited(HC-Guj)(9 Dec, 2015)

Held: From the record it does emerge that there was no dispute even by the Department on the issue that the assessee had consumed for itself various services at various stages in their manufacturing and business activities. Cost was born by the assessee which also formed a part of the value of the goods manufactured. Rule 2 (l) of the Cenvat Credit Rules, 2004 defines “input service”. This definition is couched in means and includes the expression. The definition 'input service' would mean, any service used by the provider of output service, or used by the manufacturer directly or indirectly in or in relation to the manufacture of final products and clearance of final products from the place of removal, and would include various services specified in the said definition. In view of such broad definition, three authorities below concurrently, and in courts opinion correctly, found that the service in question was 'input service' and the service tax paid thereon would be available to the assessee by way of Cenvat Credit. No question of law, therefore, arises. Tax Appeal is dismissed


Commissioner Of Central Excise Vs. M/S Nestle India Limited (SC)(24 Nov, 2015)

Held: The manner of valuation of goods would not be relevant for the simple reason that what has to be determined in the facts of the present case is the valuation of the duty of excise leviable under Section 3 of the Central Excise Act on like goods produced or manufactured in India by undertakings other than 100% EOUs. Court was afraid this approach flies in the face of the language of the notification dated 1.3.1997. The aforesaid expression is obviously different from the expression "sold" and does not require any actual sale for the notification to be attracted. In fact revenue's case is also that even though the said notification is attracted, yet because there is no sale somehow the FOB export price of like goods alone is to be looked at. If this were to be so, not only would the object of the notification not be sub-served but even its plain language would be violated if the revenue were right, logically they ought to have contended that the notification does not apply, in which event the test laid down under Section 3(1) proviso (ii) would then apply. Appeal dismissed.



Are you working ON or IN Business???

Ask any budding businessman his most important commitment and pat would come the reply, his business. A business much like a plant needs nurturing especially in the initial stages.
But imagine the situation of any businessman where he/ she is unable (or unwilling) to come out of the nurturing stage and continues with the daily nitty-gritties. Like a plant, the business too will suffer from the disability of size as way too much focus is placed on fighting the present battles instead of planning to win the war where a completely different set of strategies and tools may be required which is far removed from the present realities. Humans unlike a computer are not per-se meant to multi-task. That being the case, once you begin focusing on daily needs and stuff, you get so engrossed in it that it does not leave any scope to focus on the bigger picture which is of growth. And without a resolute focus towards

growth, it is only a question of time before it starts to shrink and the enterprise sinks into oblivion. Experience across industries seems to suggest a two pronged approach to get out of the rut.
One, to the extent possible, delegate what others can also do and keep with oneself only those activities which cannot be expected from others such as planning, strategizing and viewing the bigger picture.
Two, use innovative managerial practices which encourage delegation to people down the line so that they are enthused enough to take up tougher assignments while the owners/ entrepreneurs plan ahead for the future.
An extension to the second concept is that of using specialized machines and software. Computers, tabs, smartphones…..and now the cloud! The latter with a mix of advance software and huge server capacities has made it very possible for any entrepreneur to concentrate his energies to the extent possible on growing a business and not get bogged down simply managing it. To manage, there are managers and cloud-based ERP companies which do a better job.
Creating a system to manage the day-to-day working of the business though challenging does present certain positives like

  • Placing the right man for the right job.
  • Better productivity and lower costs
  • Reduce human dependency and let system drive the mundane and routine tasks
  • More bandwidth and energy to focus on growing the business rather than get burned by ongoing operational issues.
Having Effective IT System is becoming must for any organization

– Must for Large to Manage and Small to Grow !!!


Wishes you a prosporous & joyous year ahead !!!

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