Ramchandra Leasing And Finance Opponents Record

It can’t be equally held that the appellant truly owned the belongings. Thus the appellant is not going to be entitled for depreciation on the assets. The workers are trustworthy and trustworthy in serving the corporate and preserve full secrecy by method of inside affairs to the surface world.

“subject to the provisions of sub-section , the quantity of any dangerous debt or part thereof which is written off as irrecoverable within the accounts of the assessee for the earlier yr”. The assessee was aggrieved and moved the matter in enchantment earlier than the primary appellate authority who additionally endorsed the view of the assessing officer for the corvest finance same reasons recorded by the assessing officer and confirmed the disallowance. Still aggrieved, the assessee has preferred this second attraction earlier than this Tribunal on this issue. Suitable for companies excited about securely investing surplus funds for specific periods.

Dhaka Stock Exchange Bangladesh weblog offers necessary information on DSE listed shares, firms and Bangladesh stock market. SEO Service Provider supplies all kinds of Search Engine Optimization , Search Engine Marketing and Social Media Marketing & Optimization providers. Whatever the end result of the forensic audit, it’s extremely doubtless that the First Leasing Company of India might find yourself being the last leasing firm within the country. The young banker was Farouk Irani who threw up his job to begin a leasing firm in Chennai in 1973.

First Finance Limited was included in Bangladesh as a Private Limited Company on June 28, 1993 and the company was subsequently transformed into Public Limited Company July 18, 1996.The Company obtained license from Bangladesh Bank October 5, 1999. The Company offers its monetary services to its customers for both Industrial and Commercial in the type of Lease Financing, Term Loan Financing, Real Estate and Housing Financing, SME Financing, FDR service to its customers. He stated his private shareholding in the company was less than zero.3% and that he would not benefit or aggrandise himself by indulging in malpractices. He says that the companys financials have been endorsed by the CFO, the directors, the chairman, and approved by the statutory auditors and the audit committee. He claims that the accounts have been tampered with without his data.

Each item of those meters being lower than Rs. 5,000 in worth, the assessee had claimed a hundred per cent worth as depreciation. This is one of the offers often recognized as sale and lease again arrangement for monetary functions. The assessing officer while framing the evaluation under part 143 of the Income Tax Act, observed that this settlement to promote these meters to the assessee was ab initio void and there was no intention to promote the meters to the assessee.

To ensure steady and long term progress in addition to to sharpen its aggressive edge in an ever altering and difficult business environment. FFL all the time endeavors to diversify into totally different monetary services, which have long-term prospect. In the year 2001, we expanded our vary of companies by introducing Housing Finance. In line with further diversification program FFL has inspired in transport financing, SME financing and Bangladesh Bank Refinancing projects. The firm also provides FDR and MSS to its priceless clients.