Mar 31, 2015
Not available
Mar 31, 2014
1. CONTINGENT LIABILITIES:
The income tax assessment completed for the assessment year 2007-08 has
been disputed and demand if Rs 701810/- for the same is outstanding.
Based on the decision of the appellant authority and provision
the company has been legally advised that the demand . likely to be
deleted hence the provision has been not made.
2. DISCLOSURE PURSUANT TO ACCOUNTING STANDARD (AS) 17 "SEGMENTATION
REPORTING":
Primary Segment Reporting (Business Segment):
The Company has indentified its Primary business segment as Trading and
therefore, segment reporting in terms of accounting standard 17 on
primary segmental reporting is not applicable.
Secondary Segment (Geographical Segment):
In respect of secondary segment information the company has identified
into geographical segment as domestic and overseas. The company as only
single segment domestic sales.
3. RELATED PARTY DISCLOSURES:
During the year the company entered into transaction with the related
parties. Those transactions along with related balances as at 31$t
March, 2014 and for the year ended are presented in the following.
4. As per Accounting Standard (AS-28) impairment of assets the
company has carried the impairment test during the year. Resultant it
is found that there is no material impairment loss in the carried cost
in the assets in the books. The recoverable amount is not material
lower than the carrying amount in the accounts hence the same is not
considered.
Mar 31, 2013
1.1 Contingent Liabilities:
The income tax assessment completed for the assessment year 2007-08 has
been disputed and demand of Rs. 701810/- for the same is outstanding.
Based on the decision of the appellant authority and interpretation of
the relevant provision the company has been legally advised that the
demand is likely to be deleted hence the provision has been not made.
1.2 Disclosure pursuant to Accounting Standard (AS) 17 " Segmentation
Reporting" :
Primary Segment Reporting (Business Segment):
The Company has indentified its Primary business segment as Trading and
therefore, segment reporting in terms of accounting Standard 17 on
primary Segmental Reporting is not applicable
Secondary Segment (Geographical Segment)
In respect of secondary segment information the company has identified
into geographical segment as domestic and Overseas. The company has
only single segment domestic sales.
1.3 Related Party Disclosures:
During the year the company entered into transaction with the related
parties. Those transactions along with related balances as at 31 st
March, 2013 and for the year ended are presented in the following.
1.4 As per Accounting Standard (AS-28) impairment of assets the
company has carried the impairment test during the year. Resultant it
is found that there is no material impairment loss in the carried cost
in the assets in the books. The recoverable amount is not material
lower than the carrying amount in the accounts hence the same is not
considered.