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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“The most certain way to succeed is always to try just one more
time.”
Law Updates:
 Tax collection isn’t valid if made from ‘tax illiterate person’ due to
ignorance of law: Delhi Tribunal.
 No addition of notional interest under TP when same credit period
was offered to AE and non-AE: Mumbai Tribunal.
 No abuse of dominance by ‘AVEVA’ due to presence of other 3D
modelling software companies: CCI.
 Usage of incorrect terminology in satisfaction note won't invalidate
notice issued under sec. 153C.
 Broadband charges couldn't be deemed as technical services; not
liable to sec. 194J: Mumbai Tribunal.
 Act of supplier wasn't anti-competitive as he hadn't imposed limit
on discount offered by dealers to sub-dealers: CAT New Delhi.
PROFESSIONALS INPUTS
 RBI vide Notification No. RBI/2016-17/199 dated 29th
December
2016 has issued directions shall be referred to as the Interest Rate
Options (Reserve Bank) Directions, 2016 coming in force from 31st
January 2017.
 SEBI vide Circular No. CIR/IMD/DF/146/2016 dated 29th
December 2016 has issued the requirements for disclosure of
financial and Non- financial information and pertinent compliances
on continuous basis by listed Real Estate Investment Trusts to
Exchanges.
MARKET WATCH:
SENSEX: 26,366.15 155.47 NIFTY: 8,103.60 68.75
SILVER: 39,263.00 308.00 GOLD (MCX): 27,671.00 139.00
USD/INR: 67.91 -0.02 CRUDE OIL: 3,688.00 23.00
CS Rajiv Bajaj
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Date: 30th
December, 2016
www.csrajivbajaj.com
ACHYUTA SAMANTA
Founder KiiT University, Kalinga Institute of Social Sciences (KISS)
Achyuta Samanta (born January 20, 1965) is the founder of Kalinga Institute of Industrial
Technology (KIIT); Kalinga Institute of Social Sciences (KISS), which provides free
accommodation, food, healthcare, and education from class 1 to post-graduation with vocational
training; KIIT International School (KIS), an International Baccalaureate affiliated school, and
Kalinga Institute of Medical Sciences (KIMS), a medical college.
He is a promoter of culture and the arts through Kadambini Media Pvt Ltd (KMPL), an organization he founded. He
has been the organizer of Nanhi Pari, a Little Miss India competition, since 2000. He has established 25 spiritual
centres and shrines, and is in the process of setting up 'Gandhi Gram' in the memory of Mahatma Gandhi, a tribal
museum to showcase tribal life, art and culture, and a center for yoga and spiritualism.
Early Life, Education & Career Profile
Samanta was born to Shri Anadi Charan Samanta and Smt. Nilima Rani Samanta in the village of Kalarabanka in
Cuttack District of Odisha in 1965. His father died when Achyutananda Samanta was four, and he grew up in abject
poverty with his widowed mother.Samanta received an M.Sc in Chemistry from Utkal University. He had decade-long
experience in teaching in colleges, mostly at Maharshi College under Utkal University, in Bhubaneswar.
The adversities of life, the penury he experienced made him to struggle and stand in the midst of just a very
microscopic few who could transform his woes to advantages. The logical end to a struggling young man’s quest was
a job to sustain himself and help the family back home. His academic excellence got him the job of a teacher in a local
college, but his destiny had other plans for him. The hunger, the poverty and the will to forge ahead kept him going.
The prospects of a good life did not make him forget his wretched condition and deprivation. Adversaries of life
taught him to take life as it came. Being crushed in poverty he learned to survive and transform his adversaries to
advantages. Thus, Achyuta thought something big for deprived children where each one of them could study. It
definitely needs courage to give up a secured future to run after a mirage. Few people dare to think of coming nearer
to the horizon but very few of them set their own horizons and Achyuta was proving to be one in the second category.
With all his savings, a paltry sum of Rs. 5,000/- (100 US $), Achyuta started a small Industrial Training Institute in
1993 which has grown into one of the finest multi-disciplinary Universities of the country. It is yet another story of a
successful social entrepreneur which Achyuta has already been accepted. It was not his aim to open up an Industrial
Training Centre and then upgrade it to an Engineering College to mint money. Around this time, Achyuta started a
small school for 125 children belonging to the under-privileged section of the society. That small institute – Kalinga
Institute of Social Sciences (KISS) has now grown into the largest institute of the world for 20,000 tribal children,
who are provided with accommodation, food, health care and education from KG to PG absolutely free. Born out of
love, passion and dedication, KISS today stands testimony to Achyuta Samanta’s expression of feelings and his
sincerity to empower millions of under privileged aborigines through education. He has taken a very firm and bold
step towards the creation of an equitable world. Through KISS, Achyuta Samanta ensured that no child should ever
have a nightmarish shattered childhood. He now plays, father to nearly 20,000 children, as he knows what it meant to
be a fatherless child. Love and care helped the tribal children to shine in every field. Whether it is to represent the
nation in international sports or to secure position in various qualifying examinations, the indigenous children have
proved beyond any doubt that given scope, they could outshine everyone.Participation of world organizations like
UNDP, UNICEF, UNESCO, UNFPA and US Federal Government in various projects of KISS prove that KISS has
become the most accepted model to empower and create sustainable livelihood through education.

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Newsletter dated 30th December, 2016

  • 1. www.csrajivbajaj.com THOUGHT OF THE DAY THOUGHT OF THE DAY “The most certain way to succeed is always to try just one more time.” Law Updates:  Tax collection isn’t valid if made from ‘tax illiterate person’ due to ignorance of law: Delhi Tribunal.  No addition of notional interest under TP when same credit period was offered to AE and non-AE: Mumbai Tribunal.  No abuse of dominance by ‘AVEVA’ due to presence of other 3D modelling software companies: CCI.  Usage of incorrect terminology in satisfaction note won't invalidate notice issued under sec. 153C.  Broadband charges couldn't be deemed as technical services; not liable to sec. 194J: Mumbai Tribunal.  Act of supplier wasn't anti-competitive as he hadn't imposed limit on discount offered by dealers to sub-dealers: CAT New Delhi. PROFESSIONALS INPUTS  RBI vide Notification No. RBI/2016-17/199 dated 29th December 2016 has issued directions shall be referred to as the Interest Rate Options (Reserve Bank) Directions, 2016 coming in force from 31st January 2017.  SEBI vide Circular No. CIR/IMD/DF/146/2016 dated 29th December 2016 has issued the requirements for disclosure of financial and Non- financial information and pertinent compliances on continuous basis by listed Real Estate Investment Trusts to Exchanges. MARKET WATCH: SENSEX: 26,366.15 155.47 NIFTY: 8,103.60 68.75 SILVER: 39,263.00 308.00 GOLD (MCX): 27,671.00 139.00 USD/INR: 67.91 -0.02 CRUDE OIL: 3,688.00 23.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 30th December, 2016
  • 2. www.csrajivbajaj.com ACHYUTA SAMANTA Founder KiiT University, Kalinga Institute of Social Sciences (KISS) Achyuta Samanta (born January 20, 1965) is the founder of Kalinga Institute of Industrial Technology (KIIT); Kalinga Institute of Social Sciences (KISS), which provides free accommodation, food, healthcare, and education from class 1 to post-graduation with vocational training; KIIT International School (KIS), an International Baccalaureate affiliated school, and Kalinga Institute of Medical Sciences (KIMS), a medical college. He is a promoter of culture and the arts through Kadambini Media Pvt Ltd (KMPL), an organization he founded. He has been the organizer of Nanhi Pari, a Little Miss India competition, since 2000. He has established 25 spiritual centres and shrines, and is in the process of setting up 'Gandhi Gram' in the memory of Mahatma Gandhi, a tribal museum to showcase tribal life, art and culture, and a center for yoga and spiritualism. Early Life, Education & Career Profile Samanta was born to Shri Anadi Charan Samanta and Smt. Nilima Rani Samanta in the village of Kalarabanka in Cuttack District of Odisha in 1965. His father died when Achyutananda Samanta was four, and he grew up in abject poverty with his widowed mother.Samanta received an M.Sc in Chemistry from Utkal University. He had decade-long experience in teaching in colleges, mostly at Maharshi College under Utkal University, in Bhubaneswar. The adversities of life, the penury he experienced made him to struggle and stand in the midst of just a very microscopic few who could transform his woes to advantages. The logical end to a struggling young man’s quest was a job to sustain himself and help the family back home. His academic excellence got him the job of a teacher in a local college, but his destiny had other plans for him. The hunger, the poverty and the will to forge ahead kept him going. The prospects of a good life did not make him forget his wretched condition and deprivation. Adversaries of life taught him to take life as it came. Being crushed in poverty he learned to survive and transform his adversaries to advantages. Thus, Achyuta thought something big for deprived children where each one of them could study. It definitely needs courage to give up a secured future to run after a mirage. Few people dare to think of coming nearer to the horizon but very few of them set their own horizons and Achyuta was proving to be one in the second category. With all his savings, a paltry sum of Rs. 5,000/- (100 US $), Achyuta started a small Industrial Training Institute in 1993 which has grown into one of the finest multi-disciplinary Universities of the country. It is yet another story of a successful social entrepreneur which Achyuta has already been accepted. It was not his aim to open up an Industrial Training Centre and then upgrade it to an Engineering College to mint money. Around this time, Achyuta started a small school for 125 children belonging to the under-privileged section of the society. That small institute – Kalinga Institute of Social Sciences (KISS) has now grown into the largest institute of the world for 20,000 tribal children, who are provided with accommodation, food, health care and education from KG to PG absolutely free. Born out of love, passion and dedication, KISS today stands testimony to Achyuta Samanta’s expression of feelings and his sincerity to empower millions of under privileged aborigines through education. He has taken a very firm and bold step towards the creation of an equitable world. Through KISS, Achyuta Samanta ensured that no child should ever have a nightmarish shattered childhood. He now plays, father to nearly 20,000 children, as he knows what it meant to be a fatherless child. Love and care helped the tribal children to shine in every field. Whether it is to represent the nation in international sports or to secure position in various qualifying examinations, the indigenous children have proved beyond any doubt that given scope, they could outshine everyone.Participation of world organizations like UNDP, UNICEF, UNESCO, UNFPA and US Federal Government in various projects of KISS prove that KISS has become the most accepted model to empower and create sustainable livelihood through education.