The British Advertising Standards Authority is nothing if not literal-minded — which may be why Apple ads that hew closely to Steve Jobs’ standards of truth in advertising keep running into trouble in the United Kingdom.

Last summer the Authority banned an Apple TV ad with a voiceover that said “all the parts of the Internet are on the iPhone.” Objection: there are many parts of the Internet requiring Flash and Java that you can’t get to with an iPhone. (see here)

On Wednesday, the ASA banned a second iPhone ad.

According to the BBC, 17 viewers complained that this particular “advert” showed an iPhone 3G downloading files and Web pages “really fast” — in less than a second — something you can apparently do in an editing room but not with an iPhone in the wild.

Judge for yourself. Although the ad can no longer be aired in Britain, we can show it here, via paidcontent.org:

You can read the ASA’s ruling, including Apple’s (AAPL) three paragraph defense, here.

Even with its flaws, the iPhone is pretty impressive. But from the first, Apple’s TV ads for the device have made it look a little better than it is. Maps pop up without any annoying delay. Apps download almost instantly. Calls are never ever dropped.

Now a government agency has called the company on it. According to reports in the Guardian and the BBC, Britain’s Advertising Standards Authority has ruled that one of Apple’s TV spots misleads consumers and ordered the company to stop airing it in the U.K.

The ad, which showed a weather forecast, stock prices, vacation spots and a map to Heathrow airport, included a voiceover that read:

“You never know which part of the Internet you’ll need … which is why all the parts of the Internet are on the iPhone.”

At least two viewers complained to the watchdog agency that because the iPhone doesn’t support Flash or Java, there are many parts of the Internet that can’t be viewed through the device’s Web browser. The ASA agreed, concluding that “the ad gave a misleading impression of the internet capabilities of the iPhone.”

According to the Guardian, Apple argued that none of the content in the ad was Java or Flash-based and that the line “all parts of the internet” meant Web site availability, “not every aspect of functionality.”

You can view the ad here and judge for yourself.

Ironically, as Apple’s ad was being banned in Britain, Apple (AAPL) was being attacked in the United States for banning publication of a comic book on its App Store. See Murderdrome here.

For the text of the ASA’s ruling, click here.