As was expected, the mega event of the year was accomplished at Khajuraho, where we organised the 31st RRC. Those who participated would agree with me that the object and purpose of conducting such a Residential Refresher Course have been achieved to the fullest satisfaction of one and all. The climate was quite pleasant and ambience also congenial to the serious study on the chosen subjects. During the group discussion, there was active participation coupled with necessary guidance and assistance from the seniors.

The outstation seminar conducted at Yavatmal on 07th January 2007, was also quite successful. While at Yavatmal, professionals from other Centres like Malkapur, Nanded etc. also requested for similar seminars at their places.

Yet, one more important event was the mega guidance cell held on 9th January 2007. The important queries relating to statutory audit were ably dealt with by the panel members. Each participant very well appreciated the event.

This year we are privileged to take the lead in organising Late Shri Nani Palkhiwala Memorial lecture on 23rd February 2007. It has been decided at the joint meeting of all the five professional organisations that an eminent jurist be invited to deliver the lecture on Right To Information Act. I request every body to take advantage of the said lecture.

One of the important task presently pending before the Hon’ble Minister of Finance is to revive Section 55, 57 & 62 of the Bombay Sales Tax Act, 1959 and amend each of them retrospectively from 01st January 1960, so as to remove the deficiencies pointed out by Nagpur Bench of the Hon’ble Bombay High Court in the case of M/s Shivshyam Sales Enterprises, keeping in mind that the repealed law during its entire tenure was understood, administered and followed by both the assessee and the department, so as to treat the order under Section 57 to be the original order appealable to the superior authority provided under Section 55. Similarly, all along all the authorities including the Tribunal, had interpreted the provisions of Section 62 in such a manner that where the assessee had submitted an application within the statutory period of two years that could always be considered thereafter. The exercise of the power of rectification for or against the assessee was treated as an order amenable to an appeal before the higher authority. The suggested remedial amendments are very much essential for smooth continuation of all the pending proceedings at various levels including references before the High Court. I hope that due attention to this important aspect would be given by the draftsmen. In the past also, the repealed provisions were revived and amended and therefore, I see no, legal impediment in amending the repealed Bombay Sales Tax Act, 1959. Doctrine of Contemporenea Expositio can also be applied while amending the repealed Act.

As we are about to complete the financial year in the near future, I feel it my duty to recall my expectation from each and every member. I request each of them to introduce at least one new member to the Association, thereby helping the Association to serve the fraternity in a better way.

I would like to share with my readers that the writ petition of the Association filed at Mumbai before the Bombay High Court came up for hearing on 19th January 2007. After hearing our Sr. Counsel, Shri Rafiq Dada, the Hon’ble High Court directed the State of Maharashtra to extend the period for submitting the statutory audit report in Form 704 only through a Chartered Accountant, to 31st March 2007. The petition is fixed for final disposal on 23rd February 2007, but in the meanwhile, the Hon’ble Chief Justice would be requested to transfer the pending writ petition on the same subject from Nagpur to Mumbai.

While concluding, I may remind the readers that we shall be completing on 26th January 2007, 57 years of our adoption of Constitution and declaring the country to be a sovereign democratic republic and 30 years since declaring it to be a sovereign socialist secular democratic republic. Let us all reaffirm our allegiance to such wholesome declaration.