Newsletter dated 12th February,2015

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THOUGHT OF THE DAY
“Change is the end result of all true learning…”
Law Updates:
 The Supreme Court-appointed special investigation team (SIT) on black
money expects the income tax department to recover Rs 10,000 crore
by March 31 as tax and penalty for tax evasion from 300-odd Indians
who hold illegal accounts in Swiss banks.
 Income Tax Department Initiates Investigation into Issuance of
Cheques by Companies Which are Acting as Entry Operators to Convert
Illegal Cash into Legitimate Money.
 CBDT Seeks to invite feedback/suggestions/comments from field
formations regarding the Manual of Exchange of Information to be
incorporated in the revised version. The above said comments/
suggestions/ feedback may be provided to C.B.D.T. on or before
28.2.2015.
PROFESSIONALS INPUTS:
 Circular No 02/2015 F. No. 385/03/2015-IT(B) dated February 10,
2015 issued by CBDT, The Board has decided that no interest under
section 234A of the Act is chargeable on the amount of self-assessment
tax paid by the assessee before the due date of filing of return of
income.
 Notification No. 21/2015 - Customs (N.T.) dated the 10th February,
2015 issued by CBEC Seeks to make certain changes in AIR Drawback
Schedule.
 Notification No. 20/2015 - Customs (N.T.) dated the 10th February,
2015 issued by CBEC Seeks to amend Drawback Rules 1995.
 In CCE, Panchkula vs. M/s. Krishna Cylinders [2015 (1) TMI 1197 –
CESTAT NEW DELHI], it was held that No penalty could be imposed
when the amount of Service tax has been paid along with interest before
issuance of Show Cause Notice.
 Vide RBI circular ref RBI//2014-15/464 A.P. (DIR Series) Circular
No.75 dated February 11, 2015, clarifications regarding EXIM Bank’s
Line of Credit of USD 22.50 million to the Government of the Republic
of Gambia have been provided.
MARKET WATCH:
SENSEX: 28451.51 -118.46 NIFTY:8603.40 -24.55
SILVER:37147.00 -250.00 GOLD (MCX): 26626.00 -39.00
USD/INR: 62.4 0.14 CRUDE OIL: 3100.00 25.00
CS Rajiv Bajaj
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Date: 12thFebruary, 2015

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Dr. Naresh Trehan
MD, Medanta Medicity
“I Want To Move To The Higher End Of Healthcare In India. Not the
Commercial End. What I Am Looking For In Doctors Most of All Is Ethics and
Compassion”, Dr. Naresh Trehan
Brief Profile:
Dr. Naresh Trehan had his life shaped by early memories of his parents. His parents were well-to-do
doctors in what is now Pakistan. Overnight, they lost everything, and after much struggle found a
three-room apartment in Delhi where they held their clinics. No patient was ever refused, even if they
couldn’t afford treatment. This is what may have shaped his passion for always putting the patient
first. In 1969 after finishing his medical school and internship in India, he went to the US for further
medical studies. By the mid-1980s he was earning over a million dollars a year as a Manhattan heart
surgeon. Against the advice of friends and colleagues, he did what few Indian doctors do: he came
back, beckoned by the call of his country.
Career & Growth:
He decided against practicing in an established hospital and with the help of H.P. Nanda founded
Escorts Heart Institute & Research Center in 1988. He wanted to create a world-class hospital where
Indian patients could get treatment comparable to the best in the world. I worked with him for 6 years
and learnt a lot from him as EHIRC Executive Director. He was the “toughest” boss but he was
“buttery butter” with patients and their families. He is not only a great pioneer as a heart surgeon but
also a great entrepreneur and he worked 24x7x365!
Medanta- Multi Specialicity Hospital
His Medanta-The Medicity is a medical multi specialicity hospital built across 43 acres in Gurgaon. It
is one of India’s best and largest with 1,500 beds, 45 OTs, over 20 super specialities and also includes
clinical research and training. About him, I can be said that some succeed because they are destined
to, but most succeed because they are determined to. He is an excellent role model who inspires
Indians to come back to our booming economy.
Awards & Recognitions:
He was awarded Padma Bhushan in 2001 in addition to Padma Shree and dozens of professional
awards. Veteran journalist Kuldip Nayar calls him a very human doctor. He is the greatest
entrepreneur as a heart surgeon who has performed over 50,000 successful heart surgeries.
SUCCESS MANTRAS…
 Adopt a humane approach with your clients
 Become a world class professional
 Operate 24 x 7x 365.