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Notes to Accounts of Cityon Systems (India) Ltd.
Mar 31, 2015
1. No Prior period items are present.
2. The current assets. loans and advances are approximately of the
value stated, if realized in the ordinary course of business. The
provisions for all known liabilities are adequate and not in excess of
the amount considered reasonably necessary. These amount are subject to
3. Gross deprecation for the year Rs. 70,914.00 (Prev. Yr. Rs.
4. No Commission on Sales has been paid or is payable as at date.
5.enasure of Segment reporting as per Accounting Standard (As-17)
issued by the Institute of Chartered Accountants
6. Disclosure of Related Party Transact ions in accordance with
Accounting Standard (AS-IS) "Related Party Disclosures" issued by the
Institute of Chartered Accountants of India
Related party where significant influence exists is mentioned below:
Rich Udyog Network Entity in which Director can exercise significant
Nfkki Gteba! Finance Ltd. Efrti,y in which Director can exercise
7. During thenar under consideration no borrowing cost has
capitalized by the company in accordance with the Accounting Standard
16. 'Borrowing Cost' issued by the Institute of Chartered Accountants
8. The figure of the previous year have been regrouped/ rearranged
wherever necessary in order to make them comparable with the figures of
the current year.
9. Figures have been rounded off to the two decimals places.
10. Income Tax department has raised demand of Rs. 3.86,21, 697.00
relating to A.Y. 2011-12 on 31.03.2014. The company has filed appeal
against the relevant AO's 'order relating to A.Y. 2011-12 on 24.04.2014
before the First Appellant Authority. This is a contingent liability
which has not been provided for in books of accounts.