By CA Narayan Pasari and CA Salil Lodha, Convenors, Seminar Committee
47th RRC of BCAS was held at Hotel Dreamland, Mahabaleshwar from 9th January to 12th January, 2014. The total number of participants enrolled for the RRC was 203.
Most of the RRC Participants reached Mahabaleshwar by lunch time on 9th January 2014. Around 50 of them used the travel arrangements made by BCAS from Mumbai to Mahabaleshwar. This time the Seminar Committee made special arrangements to welcome all the participants with a personalised pen and a gift hamper which was well appreciated.
DAY 1:
The RRC began with the Group Discussion on the paper written by CA Vishal Gada on Case Studies in Taxation.
In the Inaugural function which was held in the evening, CA Naushad Panjwani, President of the Society welcomed the members and gave an overview of the activities which are conducted by the Society.
CA Rajesh Shah, Chairman of Seminar Committee gave a bird’s eye view of the selection of the subjects for the RRC, the entire process of arrangements for organising the RRC and thanked all the managing committee and seminar committee members for their support and the paper writers and brain trustees for sparing their time and sharing their knowledge with the participants.
The RRC was inaugurated by the Chief Guest CA V. C. Darak, by lighting the traditional lamp. Vice President CA Nitin Singhala introduced the Chief Guest of the RRC. CA V C Darak, in his address, spoke about the values and principles in our professional life.
CA Narayan Pasari, Convenor of the Seminar Committee proposed a hearty Vote of Thanks to the Chief Guest.
After the inaugural session, CA Amarjit Chopra, Past President of ICAI gave his presentation on “Companies Act, 2013 – Challenges in Accounting and Auditing” in his own humorous style covering all the issues related to the topic including some very serious and harsh provisions of the Act. He was concerned about the impact of some stray incidences like “Satyam” on the important enactments like the Companies Act, 2013. His underlying message to be vigilant while performing any professional duty was well received by all the participants.
This session was ably chaired by CA Uday Sathaye, Past President of the Society. The Vote of Thanks was proposed by CA K. K. Jhunjhunwala, a managing committee member .
The day ended with a sumptuous dinner in the huge dining hall of the Hotel.
DAY 2:
After breakfast, the participants discussed the paper written by Adv. K. Vaitheeswaran on Issues in Service Tax.
The Group Discussion on Service Tax paper was followed by an excellent presentation by CA Vishal Gada who dealt with his paper on Case Studies in Taxation, with great depth explaining relevant provisions of the Act also taking support from various cross references and the case laws on the issues. He also suggested to the participants not to rely too much on the decisions of lower courts unless they are strong on the technical aspects of an issue. He covered all the issues raised by the group leaders in his presentation cohesively and made the session very lively.
This session was ably chaired by CA Dr. Rakesh Gupta, an Ex-ITAT member, a participant from Delhi, who also raised few fundamental questions to the paper writer CA Vishal Gada, which were addressed by him during his presentation. CA Mulesh Savla, member Seminar Committee proposed the Vote of Thanks to the Paper Writer as well as the Chairman of the Session.
Thereafter, CA Ameet Patel, Past President of the BCAS made a thought-provoking presentation on “i for Technology”, a subject which is very close to his heart. He informed all the participants on various tools and apps which can be effectively used by a professional to improve efficiency and effectiveness of his work. He also suggested the use of services offered by various servers on the cloud. His masterly analysis of the subject made participants aware of the latest technological tools available to the professionals.
This session was chaired by CA Rajesh Muni, Past President of the Society. CA Bharat Oza, a Managing Committee member proposed the Vote of Thanks to the Paper Writer and the Chairman.
In the afternoon, all the participants got together for a group photograph.
The evening was free to the participants for some outings, refreshment and study for the subsequent papers. Some of the participants enjoyed playing cricket in the Hotel campus.
The day ended with a hot soup in the chilling atmosphere and a sumptuous dinner.
Unfortunately, a sad incident happened at night on the second day. One of our very senior members and a regular participant of the BCAS RRCs, CA Vinod S. Kothari expired due to severe heart attack. The committee members, along with a few other participants tried their level best to give him immediate medical assistance. However, he could not recover from the fatal heart attack.
DAY 3:
After breakfast, the participants discussed the paper written by CA Karishma R. Phaterphaker on “Domestic Transfer Pricing – Law, Issues & Documentation”.
Before the Brain Trust Session, all the participants prayed for the eternal peace for the departed soul of CA V. S. Kothari by observing silence for two minutes. The Brain Trust Session was conducted with CA Pinakin D. Desai and CA Dilip V. Lakhani as the Trustees for Income Tax and CA Sunil Gabhawalla as the Trustee for Service Tax. The participants had the benefit of the expert views of CA Pinakin D. Desai on several contentious issues of Direct Tax after a long time and CA Dilip Lakhani also analysed all the issues allotted to him in great detail. CA Sunil Gabhawalla excelled in his analysis of the issues raised in Service Tax area. Their command over the subject coupled with their crisp and flawless analysis was of great benefit to all the participants.
This session was ably chaired by CA Anil J. Sathe, Past President of the Society and CA Raman Jokhakar, Jt. Secretary proposed a very well deserved Vote of Thanks to all the Brain Trustees.
The Entertainment Programme to be held in the evening was cancelled and the Presentation of the discussion paper by Adv. K. Vaitheeswaran was taken up in the evening session. Adv. K. Vaitheeswaran dealt with all the case studies of his paper in a very lucid and humorous way. He gave different dimensions to the controversial issues. With the increasing importance of the Service Tax practice, his guidance on the issues will go a long way and help participants in their day to day practice.
This session was chaired by CA Pranay Marfatia, Past President of the Society. CA Saurabh Shah, Seminar Committee Member, proposed the Vote of Thanks.
The day ended with tempting dinner followed by a variety of desserts.
DAY 4:
After breakfast, CA Karishma Phatarphekar and her colleague CA Jigna Talati dealt with their paper on Domestic Transfer Pricing – Law, Issues & Documentation. Both of them made their presentation very interesting and satisfied the participants by resolving issues raised during the Group Discussions. There were challenges on the issues as the Domestic Transfer Pricing Law is still evolving and a lot more is required to be clarified from practical view point. Issues raised in their paper were of great significance to all.
The session was chaired by CA Nitin Shingala, vice president of the Society and the Vote of thanks was proposed by CA Ravi Shah.
In the concluding session, CA Nayan C. Parikh, Past President of the BCAS and a senior member of the Seminar Committee took an overview of the 47th RRC and recognised the contribution made by everybody expressing his gratitude for the efforts put in by them. He specially thanked the President for his whole hearted support and lead in organising the Residential Refresher Course. One of the participants CA Keyur R. Thakkar presented a very nice poem composed by him covering each and every event of the RRC. CA Naushad Panjwani, President of the Society, thanked everybody for making the RRC memorable. Participants departed after lunch to their respective destinations by cherishing the memories of 47th RRC and with a promise to meet again next year at the 48th RRC.
