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Purchase assets

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(Querist)
26 March 2014 we purchase machine of rs. 13029/- through cash. can we make assets into cash. auditor could not have any issue regarding.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 March 2014 there is no issue in purchasing assets in cash.

however, you need to ensure that source of cash can be explained

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