PAL Credit & Capital Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
1. The accompanying financial statements have been prepared on Going Concern Basis.
2. Deferred Tax Credit for the current quarter and corresponding assets have not been recognized on consideration for prudence, based on the principles of Accounting Standard 22, Accounting for Taxes on Income.
1. The accompanying financial statements have been prepared on Going Concern Basis.
2. Deferred Tax Credit for the current quarter and corresponding assets have not been recognized on consideration for prudence, based on the principles of Accounting Standard 22, Accounting for Taxes on Income.
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