1 CHAIRMAN’S MESSAGE EDITORIAL 2-3 SERVICE TAX 4-5 STRESS MANAGEMENT 6-8 THE MAHABHARAT JULY 2015 9-10 PHOTO GALLERY Kalam

JULY 2015 We welcome our ICAI President

Abstracts of Maiden Newsletter of our branch Kalam

JULY 2015 Chairman’s Message Respected Seniors and Dear Professional Colleagues, Our profession is witnessing a revamp of our responsibilities towards the nation with the changes that surround us. We at the Siliguri branch aim to gear the professionals to meet the same by holding various seminars, discussions and programs. In the month of June for the members we had seminars and workshops on direct taxes, indirect taxes, company laws, motivational sessions, women empowerment to name a few. We also organized GMCS, Orientation, ITT training , Industrial Visits, seminars for our students too. We as responsible citizens felt the need to celebrate world environmental day and also valued the physical well being of our member by organizing the sports meet. In the month of July we plan to celebrate CA day in a grand manner. We also plan to celebrate the glorious 25th anniversary of our branch organizing various programs for our members and students to mark this event. There are other programs as well lined up for the months to come. I am pleased to announce that we will be having our president, CA Manoj Fadnis, amongst us on 23rd July, 2015 as we mark the closure of our silver jubilee celebrations of the branch and also for the inauguration of the renovated ground floor of the ICAI Bhawan and request all of you to attend the program at the institute premises. Wishing you all the best in all your endeavours With Warm Regards

CA Shyam Agarwal Chairman- Siliguri Branch of EIRC

Editorial Dear Readers, It was a pleasure communicating with you through the newsletter ‘Kalam’ since the past one and half years. The newsletter in the spirit of its name aims to conquer the readers’ minds with the power of knowledge. The newsletter through its articles and visual contents highlights the relevant occurrences and events of the branch, ICAI fraternity, case laws, notifications and other matters of relevance to the members and students. The newsletter is an essay of team work of the newsletter and web designing committee of the branch and I am thankful to each and every member of the committee for their integral role in the success of the newsletter. I would like to convey my gratitude to the executive of the branch for providing their needful assistance and support. We are a part of the vibrant institution where we value knowledge as the supreme and any piece of literature derives its worth from its readers. I can’t thank enough each and every member of the branch for the overwhelming response to the newsletter by their contribution in the way of articles and feedback. Wishing you an informative reading!

Professionally Yours’

CA Aditya Mitruka Editor- Newsletter of Siliguri Branch, ‘Kalam’ Kalam

JULY 2015 Service tax on long term lease of Immovable property inconsistent with other laws Service tax payable on long term lease of Immovable property under Renting of Immovable Property – not in sync with Service tax Act, Accounting Standard, Bombay Stamp Act & Income Tax Act

A) Service is defined under section 65B(44) of the Finance Act, 1994 as introduced w.e.f. 01-07-2012. as under “service” means any activity carried out by a person for another for consideration, and includes a declared service, but shall not include— (a) an activity which constitutes merely,–– (i) a transfer of title in goods or immovable property, by way of sale, gift or in any other manner ; or CA MANISH AGARWAL (ii) a transaction in money or actionable claim; (b) a provision of service by an employee to the employer in the course of or in relation to his employment; (c) fees taken in any Court or tribunal established under any law for the time being in force.

Hence based on above definition of Service, a transfer of title in goods or immovable property by way of sale, gift or in any other manner is excluded from the ambit of Service hence the same is also excluded from the net of service tax. One important think to be kept in mind is transfer by way of sale, gift or in any other manner is excluded. Any other manner is not defined but according to my view long term lease of 30 years or more can also be considered as akin to sale.

B) The said conclusion I have made based on the following; As per Accounting Standard 19 – Leases issued by the Institute of Chartered Accountants of India there are two types of lease: 1) Finance Lease & 2) Operating Lease A finance lease is a lease that transfers substantially all the risks and rewards incident to ownership of an asset and An operating lease is a lease other than a finance lease. One of the examples of situations which would normally lead to a lease being classified as a finance lease is mentioned in para 8 ( C ) of the said standard which is as under: 8 (c) the lease terms is for the major part of the economic life of the asset even if title is not transferred. Here again major part of the economic life of the asset is not defined. As per stamp duty on immovable property in Maharashtra (governed by the Bombay Stamp Act, 1958), where the lease purports to be for a term more than 29 years or in perpetuity or does not purports for any definite period, or lease for a term more than 29 years with a renewal clause contingent or otherwise The same duty as is leviable on a Conveyance under clause (a), (b),(c) or (d), as the case may be, of Article 25, on 90 % of the market value of the property Hence based on above one can conclude that lease of an immovable property equal to or more then 30 years can be considered as akin to sale.

C) As per para 11 of Accounting Standard 19 – Leases: At the inception of a finance lease, the lessee should recognize the lease as an asset and a liability. A finance lease gives rise to a depreciation expense for the asset as well as a finance expense for each accounting period. The depreciation policy for a leased asset should be consistent with that for depreciation assets which are owned. Hence based on above it is clear that if lease is classified as finance lease than in the books of lessee the lease should be recognized as an asset & depreciation can be claimed as if the assets are owned.

D) As per section 50 C (1) of the Income Tax Act 1961, Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than the value adopted or assessed [or assessable] by any authority of a State Government (hereafter in this section referred to as the “stamp valuation authority” ) for the purpose of payment of stamp duty in respect of such transfer, the value so adopted or assessed [or assessable] shall, for the purposes of section 48, be deemed to be the full value of the consideration received or accruing as a result of such transfer. As per Section 2(47) of the Income Tax Act 1961, transfer is defined as under, “transfer”, in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset ; or (ii) the extinguishment of any rights therein ; or (iii) the compulsory acquisition thereof under any law ; or (iv) in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried on by him, such conversion or treatment ;] [or] [(iva) the maturity or redemption of a zero coupon bond; or] Kalam

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[(v) any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882) ; or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other association of persons or by way of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, or enabling the enjoyment of, any immovable property. Hence based on above one can come to know that Section 50C is applicable on transfer of a Capital Assets being land or building or both & as per Section 2(47) transfer in relation to a Capital Assets includes the sale, exchange or relinquishment of the asset. Therefore there have been conflicting decisions by courts/Tribunal on whether transfer of tenancy/leasehold right is a transfer of a capital asset, and would fall within the ambit of Section 50 C of the Act. The Lucknow Bench of the Income tax Appellate tribunal (the Tribunal) in the case of Shri Hari Om Gupta (the taxpayer) held that the leasehold right of a land for 99 years is a Capital asset to which the provisions of section 50 C of the Act are applicable. Therefore the capital gain on transfer of such leasehold right is to be computed in accordance with the provisions of section 50 C of the Act. Hence based on above one can conclude that as per Service tax act, Accounting Standards, as per Stamp duty on Immovable property in Maharashtra (governed by the Bombay Stamps Act, 1958) & also as per the Income tax act, long term lease can be considered as akin to sale.

E) As per section 194I of the Income Tax Act 1961: Any person, not being an individual or a Hindu undivided family, who is responsible for paying to [a resident] any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, [deduct income-tax thereon at the rate of— [(a) two per cent for the use of any machinery or plant or equipment; and (b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings:]] Explanation.—For the purposes of this section,— [(I) “rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— (a) Land; or (b) Building (including factory building); or © Land appurtenant to a building (including factory building); or (d) Machinery; or (e) Plant; or (f) Equipment; or (g) Furniture; or (h) Fittings, whether or not any or all of the above are owned by the payee; Very often, when land is taken on lease for a long period of time, say for 30 years, 50 years or 99 years, a premium is paid for such grant of lease (such a onetime premium to acquire leasehold rights is called salami payment by several courts in the Income Tax Act), particularly also when the lease is being taken from a Government Authority, such as an Industrial Development Corporation or a Regional Development Authority. In addition to the premium, annual rent may also be charged, which at times may be a nominal amount. The payment of such a premium has been the subject matter of several controversies, under the tax laws, including the liability of the payer to deduct tax at source u/s. 194-I and his eligibility to claim deduction for such payment in computing his total income. One of the issues is whether such a premium i.e. salami payment is really in the nature of rent for the purposes of section 194-I, and whether tax is deductible at source from such premium, or whether such premium is in the nature of a capital expenditure for the grant of lease of the land and no tax is deductible from such payment. Chennai Tribunal in the case of Foxconn India Developers Pvt Ltd v/s ITO 53 SOT 213 held that the definition of rent under section 194 I cover the payment made for long term lease arrangements also. Therefore taxes have to be withheld under section 194 I of the Act on long term lease arrangement also. Similar kind of judgment is also delivered by Mumbai Tribunal in the case of ITO v/s Navi Mumbai SEZ (P) Ltd., 147 ITD 261. Above said decisions are contradicting i.e. how can salami payment on long term lease be treated as Rent but actually the said expenditure is a capital expenditure hence TDS on rent should not be deducted but on salami payment TDS @ 1% under section 194 – IA, TDS on Transfer of Certain Immovable Property other than Agricultural land can be deducted.

Conclusion: 1) According to my view long term lease should be treated as akin to sale & therefore on salami payment i.e. onetime payment to acquire long term lease rights of land or buildings or both, no service tax should be payable because the same is falling clearly under exclusions given to the definition of service under section 65B(44) of the Finance Act, 1994. Therefore the same should be clearly outside the ambit of service tax net. Hence according to my view the said decision of New Okhla Industrial Development Authority should be reversed by the high court. 2) Similarly on salami payment i.e. onetime payment to acquire long term lease rights of land or building or both TDS on rent u/s 194 I @ 10% should not be deducted but TDS u/s 194 – IA @ 1% , TDS on transfer of Certain Immovable Property other then Agricultural Property can be deducted. Hence decisions of Chennai Tribunal of Income tax namely Foxconn India Developers Pvt Ltd & Mumbai Tribunal of Income Tax, Navi Mumbai SEZ (P) Ltd should be reversed by the high courts. 3) Now with the introduction of Goods & Service tax Act (GST Act) in near future Central taxes like Central Excise duty, Service Tax, Customs duty & also state taxes like VAT, Entertainment tax (unless it is levied by local bodies), luxury tax, taxes on lottery including betting & gambling, entry tax etc will be merged under GST Act. Hence it is the time to integrate all direct, indirect taxes & Accounting Standards in such a fashion that no single law/discipline should contradict other laws/discipline i.e. all laws should be in sync with each other. Then only litigation will reduce significantly. Kalam

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STRESS MANAGEMENT

Let us understand one interesting reality. When there are so many living beings on this earth, why does a human being alone need counseling?

It's because when all the other living beings start walking within few seconds after birth, man alone needs to be protected for quite some time. Slowly, he learns to live on this earth. This is the major difference between animals and human beings. That CA PUSHPAK SINHAL is why animals live in forests and human beings need a society to live his life. He needs care, protection, love and various feelings to exist on this earth. If these are missing in life, he starts feeling insecure. At this stage even a very great Emperor or a king also looses directional thinking. To reinforce, and re-establish his faith and confidence in himself, he needs counseling. If he is not provided counseling, he may become abnormal. Counseling is assistance extended to a needy person, when he is perfectly normal. In counseling there is no medication or clinical treatment provided. It is tremendous effort and unlimited patience from the counselor, which brings change in the counselee. It is a planned attempt to drive home basic realities of life in a systematic method. It is an attempt to change oneself, so that world appears to be a beautiful place to live. SO NOW WHAT IS STRESS? Stress is not the same as ill-health, but has been related to such illnesses as; Cardiovascular disease, Immune system disease Asthma, Diabetes, Digestive disorders, Ulcers, Skin complaints - psoriasis, Headaches and migraines, Pre-menstrual syndrome Depression

 Stress can lead to Distress.

 Therefore De-Stress yourself to relieve yourself from Stress.

 Become a master over your actions rather than a prisoner of your reactions Positive Stress: Stress can also have a positive effect  INCREASES motivation and awareness,  Helps to cope up with challenging situations.

 Stress helps us to survive when we confront threatening situations

TO OVER COME STRESS WE HAVE TO CHANGE OUR ATTITUDE TOWARDS LIFE AND LEARN TO ACCEPT OUR STRENGTHS AND WEAKNESSES POSITIVELY. Don't compare yourself with anyone in this world. If you do so, you are insulting yourself. FEW HANDY TIPS TO DE STRESS

1. ALWAYS TELL YOURSELF- I AM THE HERO IN MY LIFE

2. MY FAMILY NEEDS ME

3. WHEN WE FEEL TIRED AND STRESSED OUT - DRINK WATER AND COUNT 1- 10

4. WE EAT TO LIVE BUT NOT LIVE TO EAT- ENJOY YOUR FOOD

5. WHEN YOU ARE SAD BLAME YOUR STARS, WHEN YOU ARE HAPPY THANK YOUR STARS

6. FORGIVE AND FORGET

7. SMILE - IT WILL TAKE YOU A MILE Kalam

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8. PLAN EVERYDAY - SHORT TERM GOAL

9. CONTINUE TO PLAN EACH COMING DAY- LONG TERM GOAL

10. ANGER IS ONE LETTER SHORT OF DANGER

SO EVERYDAY-I PROMISE MYSELF THAT

 I WILL SMILE, AS IT KEEPS ME HAPPY

 I WILL MAKE OTHERS HAPPY, AS IT MAKES ME HAPPY

 I WILL NOT GET ANGRY, AS IT SPOILS MY HEALTH

 I WILL NOT BECOME A SLAVE TO ANY HABITS, BECAUSE I AM SUPERIOR

 I LIVE MY LIFE, AS IT IS A GIFT FROM GOD Strategies to Reduce Stress: Take control and manage your time instead of letting it manage you. Use a to-do list, follow a written plan, set goals and follow through. Avoid procrastination (defer action): a major cause of stress. Make a realistic list of things you need to do each day. Do the most important things first. That way, even if you don't finish the list, you get the most important things done. Take a break as sometimes it is better to get away from the situation for a short time. Take a brisk walk, focus on pleasant thoughts and then go back to the task feeling refreshed and ready to tackle whatever it is you have to do. Join the crowd: Even though you may think you are the only person in the world who is experiencing stress, the fact is that everyone experiences it sometime. Talk to someone or find someone you trust, discuss the problems and look for solutions. Visualize: Sit comfortably and think of a favorite place. Imagine yourself in a successful situation sit quietly and breathe deeply and slowly. Continue for five or six breaths. It is calming and the extra dose of oxygen increases the brain's thinking ability. When you get angry, take a break and cool down before you act. Learn always to count from one to ten or more. If you are experiencing a small amount of anxiety, it can help to keep you active and alert. Use it to increase your performance. Stress Management Techniques: Change your thinking, Change your behavior, Change your lifestyle. Kalam

JULY 2015 THE

AN INSIGHT AND RELEVANCE

CA. Jyoti Prakash Basu Dhar About the ,the longest known epic it is said that “ What’s not in , is not in Bharata”. For long time some great studies has been conducted on the underlying principles set forth through the events and stories of this great epic. In a way, the Mahabharata, is all about cause and effect relationship through its various events and characters throughout.The incidences in Mahavarata are not mere happenings, each of these are very significant and have critical underlying lessons for even day to day socio-economic decision making and practices. A few of those are shared below: The birth of and Dritarashtra: For example, the epic begins with Rishi Ved (who eventually writes the Mahabharata). He at the request of his mother Styabati agrees to bring forth an heir to the throne of and impregnate and later , who in turn give birth to and Pandu. Ambalika is so appalled by the sight of the unkempt sage (Vyasa) that she closes her eyes during their union. Her son is the blind king, Dhritarashtra. Ambalika was instructed by to keep her eyes open lest she would bear a blind son like Ambika's (Dhritarashtra). She did keep her eyes open but she became pale after seeing the formidable form of the Sage. Therefore, Pandu was born pale. It signifies , the way a person is perceived by his partner causes a strong impact on their offspring. Let us also not forget in Mahabharata, , from his mother’s womb could learn only the process of entrance to Chakrabyuha, when was narrating her and could not listen the exit strategy as his mother fell asleep and eventulay Abhimanyu had to stuck and die within the Chakrabyuha. Arjun and Duryodhan meets Lord Krishna at His Palace: A very interesting situation occurred in the Mahabharata. Duryodhan and Arjun were going from kingdom to kingdom campaigning and both of them have acquired formidable armies and allies behind them for the battle. They came to Dwarka for the same. Duryodha was the first to reach the Palace. Lord Krishna was sleeping then. Seeing Krishna Sleeping he decided to wait and preferred a place beside Krishna’s head “He is not even a king; he is a cowherd. I am a great emperor. Why would I stand near his feet?”, thought Duryodhan. He was egotistic. came moments later, being a devotee and obliged Arjuna stood facing the lotus feet of lord with his head bowed and hands folded. Just a while after, when Krishna About the Mahabharata,the longest known epic it is said that “ What’s not in Bharata, is not in Bharata”. For long time some great studies has been conducted on the underlying principles set forth through the events and stories of this great epic. In a way, the Mahabharata, is all about cause and effect relationship through its various events and characters throughout.The incidences in Mahavarata are not mere happenings, each of these are very significant and have critical underlying lessons for even day to day socio-economic decision making and practices. A few of those are shared below: The birth of Pandu and Dritarashtra: For example, the epic begins with Rishi Ved Vyasa (who eventually writes the Mahabharata). He at the request of his mother Styabati agrees to bring forth an heir to the throne of Hastinapur and impregnate Ambika and later Ambalika, who in turn give birth to Dhritarashtra and Pandu. Ambalika is so appalled by the sight of the unkempt sage (Vyasa) that she closes her eyes during their union. Her son is the blind king, Dhritarashtra. Ambalika was instructed by Satyavati to keep her eyes open lest she would bear a blind son like Ambika's (Dhritarashtra). She did keep her eyes open but she became pale after seeing the formidable form of the Sage. Therefore, Pandu was born pale. It signifies , the way a person is perceived by his partner causes a strong impact on their offspring. Let us also not forget in Mahabharata, Abhimanyu, from his mother’s womb could learn only the process of entrance to Kalam

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Chakrabyuha, when Krishna was narrating her and could not listen the exit strategy as his mother fell asleep and eventulay Abhimanyu had to stuck and die within the Chakrabyuha. Arjun and Duryodhan meets Lord Krishna at His Palace: A very interesting situation occurred in the Mahabharata. Duryodhan and Arjun were going from kingdom to kingdom campaigning and both of them have acquired formidable armies and allies behind them for the Kurukshetra battle. They came to Dwarka for the same. Duryodha was the first to reach the Palace. Lord Krishna was sleeping then. Seeing Krishna Sleeping he decided to wait and preferred a place beside Krishna’s head “He is not even a king; he is a cowherd. I am a great emperor. Why would I stand near his feet?”, thought Duryodhan. He was egotistic. Arjuna came moments later, being a devotee and obliged Arjuna stood facing the lotus feet of lord with his head bowed and hands folded. Just a while after, when Krishna opened his eyes he saw Arjuna first, in front of Him, so he asked Arjuna for the purpose of his visit. Immediately interrupted Duryodhan and informed Krishna that he had reached before Arjun. Then both of them said that they have come to ask for his help in the war. Krishna said, “Both of you have come and both of you are asking for the same thing, so let me put it this way. One of you can have my army, another can have me, without arms; I won’t fight, I’ll just come with you. Because my vision fell upon Arjuna first, he gets the first choice.” Duryodhan protested, “I came here first!”. Krishna said, “But I saw Arjuna first”. However, Arjun asked for Krishna alone with no army “we just want you with us”, said Arjun. Duryodhan let out a sigh of relief – he was so happy! He realised the were so idiots, they choose one man, with no arms, against the huge NARAYANAI SENA consisting of 10,00,000 plus trained warriors. But that single choice made all the difference. When Krishna asked Arjuna and to choose between him and his army, the choice was, in fact, between a Leader and his Resources. While a Good Leader can gain from limited resources, a Bad Leader will loose even with vast resources. Knowing his excellent Leadership Qualities, Arjuna requested Krishna not only to lead the entire mission but to personally lead him by accepting to be his “Saarthi” (Charioteer), guide him and lead him to success. Through the whole of kurukshetra battle, it was Krishna’s Stretigies, like-  Asking Arjuna to kill while he was unarmed,  Using eunuch () to unarm the invincible ,  Using His own Chakra to cover the sun to kill Jayadrath,  Resorting to the “Ashwathama hata, iti gaja “ (Ashwathama Died, namely Elephant) trick to kill . Krishna has been the Greatest Crisis Manager of all times. His strategies turned out to be more effective than an entire army and ended up rewarding the victory (objective attained) towards the Pandavas. Women empowerment: was the authority supreme for the Pandavas. “Whatever my mother says is Dharma to me” said Yudhisthira. was a companion in whatever the Pandavas did. She was liberal enough to maintain a friendly relationship with Krishna (sakha). Draupadi’s utter humiliation at the Court and then her vow, was the prime cause which destroyed the mighty empire. She had a big role in all the decision making. Even the younger Pandavas : Ghatotkach, Abhimnanyu and were brought up by their mothers. For Pandavas Women empowerment was greatly in practice. For it had been Completely Patriarchal structure. Bhishma, Drona, , Dhratarashtra, Vidur, , Duryodhana, Karna, Duhsasana.No women in the decision making process. retreated to the Inner Chambers. Nobody listened to her. Women are the Better Half for the Masculine traits of Aggression and Dominance should be balanced by the Feminine traits of Harmony and Sustenance. It was the utter insult of Droupadi in the Court by Duryodhan and Dushasan which caused them such painful death by Bhim (Duryodhana’s thigh was broken,Dusyasan’s hand and chest was torn by Bhim) as punishment for that insult of womanhood. Kalam

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Group Dynamics, Centralisation of Power, Esprit de corps: In the Kurukshetra battle the Kaurava army consisted of 11 . Duryodhana requested Bhishma to command the Kaurava army. Bhishma accepted on the condition that, while he would fight the battle sincerely, he would not harm the five brothers. In addition, Bhishma said that Karna would not fight under him as long as he is in the battlefield. The excuse Bhishma used to prevent their simultaneous fighting was that his guru(Parshurama) was insulted by Karna.There was conflict with in the Team itself, lacking cohesiveness. In Kauravas except for Duryodhana nobody wanted the War. All the 4 main generals had strong ties with the Pandavas. Bhishma – Wont kill the panadavas. Will kill a thousand soldiers each day. Drona - Wont kill the Pandavas. Will capture them only. Shalya - Loved the Pandavas and covertly helped them by humiliating Karna Karna - Promised to Kunti not to kill any of the other Pandavas save Arjuna or be killed. Individual interest prevails over the General Interest. The principle of “Subordination of individual interests to the general interests” fails. The Pandavas accumulated seven Akshauhinis army with the help of their allies. Each of these divisions were led by , ,Dhristadyumna, Shikhandi, , Chekitana and . The Pandavas had Common goal to defeat the Kaurabas through assigning individual targets to its respective members, e.i, Dhratsadyumna : Drona. Shikhandi : Bhisma. Satayaki – Bhurisravas. Arjuna – Karna. Bhima – Duryodhana and his brothers. – Shakuni and his sons. –Karna’s sons. Thus implementing a strong group cohesiveness with Division of work and responsibility. The Right team is made by selecting the right Individuals. Get the right man for the right job with clear targets assigned for achieving the Common Goal. Two types of teachers in life: Under Drona, the Pandavas receive material education: archery that lets them fight wars and vanquish enemies. But only through Krishna do they gain spiritual wisdom, Vedic wisdom, strategy formation, implementation of those strategies at the battle field, that explains the practical and real world to them. It is Lord Krishna, the 2nd type of teacher who motivated Arjun to step out of despair and dilemma, on the other hand instigated Bhima to hit the fatal strike to Duryodhana below the belt, going against the rule of the game of ‘- yuddha’. In our real life also, for example we, the CAs, come across two types of teachers. One enrich us academically through their books and / or classes so that we can successfully embark the academic barriers with their guidance. Simultaneously during our articleship we come across another type of teachers in the form of our Principals or Senior CA Members in the field of work, in whose companion or guidance and observation we practice and strive towards perfection through the vast practical work exposures that they allow us to go through. Besides, if we think about the Characters, these are also much interesting and self explaining... Dhritarashtra: The blind King of Hastinapur had but one fault; he loved his children too much and thus he never reprimanded them. Correcting our loved ones when they go astray doesn't make your love for them any less, it helps them from committing blunders. Blind love resulting in utter disobedience is dangerous. Draupadi: Draupadi had done penance in her previous life and asked Lord for a perfect husband who was a brave warrior, morally pure, has the strongest body, is the most learned and also the handsomest man on earth. She got whatever she wanted but in 5 different husbands. One man cannot have all these qualities and one cannot have everything in life together. Abhimanyu: Arjun's son Abhimanyu knew only how to enter the chakravyuh, not how to come out of it. However, he decided to enter this difficult war formation and had to succumb to death there. That is why, half knowledge is very dangerous. Whatever we know must be thorough, in depth. Shakuni: Shakuni was not happy to see his sister Gandhari marrying a blind man and so his immediate enemy was Bhishma who brought the proposal of a blind man for his sister. In addition, there is another legendary story which highlights the fact that the ancestors of Hastinapur destroyed the entire clan of Gandhara.This is one of the reasons why Shakuni wanted revenge for these by destroying the entire Kuru line.The whole idea of revenge actually consumed an entire civilization,a whole order of things including him killed by Sahadev. Kalam

JULY 2015 PHOTO GALLERY TIONS VER JUBILEE CELEBRA Y 2015 & SIL A C A D Kalam

JULY 2015 SPORTS MEET - 2015 O THERS

SILIGURI EXECUTIVE COMMITTEE BRANCH WEB DESIGNING & NEWSLETTER COMMITTEE. Chairman : CA. Shyam Kumar Agarwal Advisor : CA. L. B. Prasad Vice Chairman : CA. Pankaj Maskara Chairman : CA. Vivek Agarwal Hony. Secretary : CA. Sanjay Das Vice Chairman & Editor : CA. Aditya Mitruka Hony. Treasurer : CA. K. L. Khetan Members : CA. Ankit Chhawachharia Member : CA. Dinesh Goyal : CA. Manish Agarwal Member : CA. Sanjay Goyal : CA. Navin Agarwal (Birpara) Regional Council Member : CA. Prateek Pugalia & Branch Coordinator : CA. Manish Goyal : CA. Satyavart Sharma

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