personal exp charges co.'s exp
This query is : Resolved
17 December 2009
hi every1
please solve my query
one of our cleint, which is a co.
has paid to another co. Rs. 10 lacs as a payment to install a lift system in his under repair bunglow. such payment is made from the account of Co. also the three directors of co. lives in that bunglow as a memeber of joint family.
i think it is not valid
please guide me
also tell me ground from invalidity or validity ground
please solve my query
one of our cleint, which is a co.
has paid to another co. Rs. 10 lacs as a payment to install a lift system in his under repair bunglow. such payment is made from the account of Co. also the three directors of co. lives in that bunglow as a memeber of joint family.
i think it is not valid
please guide me
also tell me ground from invalidity or validity ground
CA.Balakrishnam.V
(Expert)
19 December 2009
It is the duty of auditor u/s 227 of companies act to state in report -
whether transactions of the company which are represented merely by book entries are not prejudicial to the interests of the company
whether personal expenses have been charged to revenue account
on observation of above case, it shows that the company as no valid relation with the transaction. so the auditor as to qualify in this report
whether transactions of the company which are represented merely by book entries are not prejudicial to the interests of the company
whether personal expenses have been charged to revenue account
on observation of above case, it shows that the company as no valid relation with the transaction. so the auditor as to qualify in this report
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