Loans	Tax Audit	Project Report	Tax Commitment	ROC Commitment

Address ………..……….………..………..……..………..………..………..…….

Permanent Account Number ………..………..………..………..………..

Status ………..………..………..………..………..

Previous year ended 31 st March ………..………..

Assessment year………..………..………..

7.(a) If firm or Association of Persons, indicate names of partners/ members and their profit sharing ratio.

(b) If there is any change in the partners / members or their profit-sharing ratios, the particulars of such change.

8. (a) Nature business or profession

(b) If there is any change in the nature of business or profession, the particulars of such change.

9. (a) Whether the books of accounts are prescribed under section 44AA, if yes, list of books so prescribed.

(b) Books of accounts maintained.

(In case books of accounts are maintained in a computer system, mention the books of accounts generated by such computer system)

(c) List of books of accounts examined.

Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration shall keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act.

Every person carrying on business or profession other than above shall,—

(i) if his income from business or profession exceeds Rs.120000 or his total sales, turnover or gross receipts exceed ten lakh rupees in any one of the three years immediately preceding the previous year; or

(ii) where the business or profession is newly set up,if his income from business or profession is likely to exceed Rs.1,20,000/- or his total sales, turnover or gross receipts, are or is likely to exceed ten lakh rupees,or

(iii) where for profits and gains from the business section 44AD or section 44AE or section 44AF applies,and the assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, keep and maintain such books as may enable the Assessing Officer to compute his total income.

10.Whether the profit & loss account includes any profits & gains assessable on presumptive basis, if yes, indicate the amount and the relevant section(44AD, 44AE, 44AF, 44B,44BB,44BBA,44BBB or any other relevant section)

11.(a)Method of accounting employed in the previous year.

(b)Whether there has been any change in the method of accounting employed vis-a-vis the method employed in the immediately preceding year.

(c)If answer to (b) above is in the affirmative, give details of such change, and the effect thereof on the profit or loss.

(d)Details of deviation, if any, in the method of accounting employed in the previous year from accounting standards prescribed under section 145 and the effect thereof on the profit or loss.

(a) Scrutinise thoroughly and compare with the previous year whether they are accounted on the same basis as in the earlier year:-

Insurance Company Claims & premiums , refunds from Sales-tax & Income-tax ,duty drawbacks or refunds, cash incentives, payment of Octroi duties

(b) Check last month's journal vouchers to verify whether the provisions for expenses made are on the same basis as they were previously.

(c) Report any change in the method of accounting with reason

(e) See whether provisions u/sec.209(3) of the Companies Act,1956 are complied with, for company assesses.

(f) Requirement of Accounting Standard 1 (AS1) "Disclosure of Accounting Policies" of the Institute of Chartered Accounts of India (ICAI). &  AS-5 "Prior period and Extra ordinary items and changes in Accounting Policies" of the ICAI, must also be considered

The Accounting Standard 5 relating to disclosure of Prior period (2) and Extra ordinary items (3) and changes in accounting policies.

Check whether all prior period items [if any are separately stated in final accounts.

Check any Extra-ordinary Item reflected in Income or Expenditure side.

Any change in the accounting policy due to [1] removing the wrong accounting treatment followed for last years or [2] make proper presentation of final accounts may be accepted.

The material effect of change in the accounting policy should be disclosed. If the effect is not ascertainable, such fact should be stated.

The effect of any change in the accounting estimates (4) must also be stated.

The question of whether the change is due to change in accounting policy or estimates, such a question must be referred to Board for decision.

(1) Accounting Policies :-Specific Accounting Principles & the methods of applying those principles adopted by the assessee in preparation of financial statements.

(2) Prior Period Items :-Material Charges or credits which arises in the previous year as a result of errors or omissions in the preparation of the financial statements of one or more previous years. [Provided that charge or credit arising on the outcome of a contingency, which at the time of occurrence could not be estimated accurately shall not constitute the correction of an error but a charge in estimates and such an item shall not be treated as prior period item.

(3) Extra Ordinary Item :- Gains or Losses which arise from events or transactions which are distinct from the ordinary activity of the business and which are both material and expected not to recur frequently or regularly. Extra ordinary items includes material adjustments necessitated by circumstances which though related to years preceding to the previous years are determined in the previous year. [Provided that income or expenses arising from the ordinary activities of the business or profession or vocation of an assessee though abnormal in amount or infrequent in occurrence shall not qualify as extra ordinary item.]

(4) Accounting Estimates :-An estimate made for the purpose of preparation of financial statements which is based on the circumstances existing at the time when the financial statements are prepared

12.(a)Method of valuation of closing stock employed in the previous year.

(b)Details of deviation, if any, from the method of valuation prescribed under section 145A, and the effect thereof on the profit or loss

The valuation of purchase and sale of goods and inventory for the purposes of determining the income chargeable under the head “Profits and gains of business or profession” shall be—

(a) in accordance with the method of accounting regularly employed by the assessee; and

(b) further adjusted to include the amount of any tax, duty, cess or fee (by whatever name called) actually paid or incurred by the assessee to bring the goods to the place of its location and condition as on the date of valuation.

Explanation. For the purposes of this section, any tax, duty, cess or fee shall include all such payment notwithstanding any right arising as a consequence to such payment

1] Checking of stock register

2] Check whether they have adopted standards for receipt and production of stock.

3] Valuation of stock.

13.Amounts not credited to profit and loss account, being-

(a)the items falling within the scope of section 28

(b)the Proforma credits ,drawbacks ,refunds of duty of customs or excise, or refunds of sales tax ,where such credits, drawbacks or refunds are admitted as due by the authorities concerned;

(c) escalation claims accepted during the previous years;

(d) any other item of income

(e) capital receipt, if any

14.Particulars of depreciation allowable as per the Income-tax Act, 1961 in respect of each asset or block of assets, as the case may be, in the following form:-

(a)Depreciation of asset/block of assets.

(b)Rate of depreciation.

(c)Actual cost or written down value, as the case may be.

(d)Additions/deductions during the previous year with dates; in the case of any additions of an asset, date put to use; including adjustments on account of-

(i)Modified Value Added Tax credit claimed and allowed under the Central Excise Rules, 1944,in respect of assets acquired on or after 1st March, 1994,

(ii)change in rate of exchange of currency, and

(iii)subsidy or grant or reimbursement, by whatever name called.

(e)Depreciation allowable.

(f)Written down value at the end of the year.

15.Amounts admissible under sections 33AB, 33ABA ,33AC, 35, 35ABB, 35AC, 35CCA, 35CCB, 35D,35E:-

  (a)debited to the profit and loss (showing the amount debited and deduction allowable under each section separately);

  (b)not debited to the profit & loss account.

16.(a)Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend [Section36(1)(ii)]

(b)Any sum received from employees towards contributions to any provident fund or superannuation fund or any other fund mentioned in section 2(24)(x); and due date for payment and the actual date of payment to the concerned authorities under section 36(1)(va)

Take a declaration from the assessee about the amount of bonus or commission and a further declaration that the amount so stated was not to be paid to the concerned employees as profits or dividend [D-7]

17.Amounts debited to the profit & loss account, being:-

  (a)expenditure of capital nature;

Check the major expenses incurred by verifying the vouchers regarding the following expenses.

Repairs and maintenance, Stores and spare parts consumption ,Legal, professional & consultancy charges.

Check whether any expenses found of the given nature has any bearing on the depreciation schedule as per clause 14 of 3CD

(b)expenditure of personal nature;

Check the expenses incurred as follows by verifying the vouchers regarding them.

Director’s remuneration, staff welfare, entertainment, rent, travelling, lodging & boarding, expenses of guest house , driver’s salary , telephone & mobile charges, electricity charges, motor car expenses, credit card charges and bank guarantee fees.

If any expense transferred to drawings as personal , check the way of working out the portion of personal expenses. If there is no basis found for the same, take a declaration from the assessee. Also give a note of the effect stating the facts in your report, as we have no choice but to rely on the working of the assessee.

Credit card is found used partially for personal use, the proportionate amount of credit card charges must be transferred to drawings.

(c)expenditure on advertisement in any souvenir, brochure, tract, pamphlet or the like published

  by a political party;

Any amount spent in terms of foreign on this expenses must have RBI permission.

Check following expenses to locate any amount spent against gifts articles is included therein:

Commission, entertainment expenses, sales promotion expenditure, labour welfare expenses, presentation articles, new year diaries, occasional gifts.

(d) The provisions of Rule 6B are no longer required to be observed w.e.f.19/11/1999.

(d)expenditure incurred at clubs,-

  (i)as entrance fees and subscriptions;

  (ii)as cost for club services and facilities used;

Verify that the salary or perks include club bills.

Verify the vouchers for owner’s / director’s expenditure relating to clubs.[If any]

(e) (i)expenditure by way of penalty or fine for violation of any law for the time being in force;

  (ii)any other penalty or fine;

(iii)expenditure incurred for any purpose which is an offence or which is prohibited by law;

(f)amounts inadmissible under section 40(a)

 Interest ,royalty, fees for technical services or other sum chargeable under this Act, which is payable outside India, on which tax has not been paid or deducted under Chapter XVII-B[Deduction at source]

Sales Tax interest may be taken as penal interest. Due to a school of thoughts one can even state the amounts of such penal interest.

(g)interest, salary, bonus, commission or remuneration inadmissible under section 40(b)/40(ba) and computation thereof;

See the clause of salary in the Deed before calculation of salary.

Confirm that the partner is a working partner.[Take a suitable declaration][D-9]

Check the drawings of the partners [Whether as salary or drawings]

Confirm that the interest is not exceeding 18% on product basis.

Take declaration regarding the salary, bonus, interest paid/ charges.[D-10]

Check the working of book profit [i.e.business profit]

If it is left to be decided at the end of the period, it is disallowable. Deed must specify the remuneration or lays down the manner of quantifying such remuneration. [Cir-739,25/3/96]

(h)amount inadmissible under section 40A(3) read with rule 6DD and computation thereof;

[Expenses exceeding Rs.20,000/-]

Any payment made above the limit made during the period in which cheque clearing/ bank operations are suspended, will not cover under this section.[Cir.250, F.No.206/1/79-IT(AII),Dt.11-1-1979]

Even payments during strike of bank employees , will not cover under this section [Letter-F-No.142(14)/70-TPL Dt.28/9/1970]

Advance payments which afterwards squared off against liability to pay for expenditures are also covered under sec.40A(3)[Kejriwal Iron Stores vs CIT [1988] 169 ITR12,(Raj)]

This limit applies to payments to a party at one time. Thus payments made during a day need not be summed up to apply the provisions.[CIT v Aloo Supply Co.[1980],121,ITR 680,(Ori.)]

In brief exceptions:-

a . Payments under contracts entered in before 1-4-1969.

b. Payment by book adjustments for goods / services supplied to payee.

c. Payments to persons in town/village having no banking facility.

d. Payments made to agriculturists & cottage ind. Run without the aid of power.

e. Payments to banks, agricultural credit soc., LIC, UTI & specified financial institutions.

f. Certain payments made through banks like.Letter of Credit, mail or telegraphic trf., book adj. & bills of exchange made payable only to banks.

g. Payments of terminal benefits like gratuity, compensation etc.

h. Payments to temporary employees or having no bank accounts.[Must get a declaration as such]

i.Payments on the day which is a bank holiday or strike of banks, or cheque clearing suspended. [Cir. No. 220, F.No.206/17/79-IT(A-II),Dt.31/5/1977]

j. Payment to agent who is required to pay in cash for goods/services on behalf of such person.

k Payments to Govt.under rules framed by it,in legal tender.

l. Purchaser is new to the seller.

m. Transaction at places where purchaser or seller has no banking facility.

Go through the cash book for payments.

If found such entries get a statement of the same from the concern.

Get a declaration from the management that the payments in given statement are the only payments ,and there are no other payments of the similar nature.

Give a note in the report that ‘It has not been possible to verify whether the payment in excess of Rs.20,000/- have been made otherwise that by crossed cheque or bank draft as the necessary evidence was not in the possession of the management.

(i)provision for payment of gratuity not allowable under section 40A(7);

Deduction is only allowed if:-

a. Gratuity is paid or payable during the previous year.[Existing liability on the date of introduction of gratuity scheme is deductible in that very year.][The outer limit for each employee is 8B for each year of service. CIT v. Shri Arbuda Mills Ltd.]

b. Where provision is made for payment of sum towards approved gratuity fund.

(j)any sum paid by the assessee as an employer not allowable under section 40A(9);

* Payments as an employer towards setting up or formation of any fund, trust, company, AOP, or BOI, society under Societies Registration Act,1860. ,except where such sum is so paid, for the purpose of Sec.36(1) (iv) or (v)[(iv)sum paid as contribution towards recognised provident fund, superannuation fund.(v)sum paid as contribution towards approved gratuity fund.]

(k) particulars of any liability of a contingent nature.

The contingent liability may be for following.

a.Claims against concern not acknowledged as debts.

b. Estimated amount of contracts remaining to be executed on capital account and not provided for.

c.Other money for which company is contingently liable.

Take declaration stating the contingent liabilities.[D-11]

18.Particulars of payments made to persons specified under section 40A(2)(b).

Obtain a declaration regarding the persons specified in section 40A(2)(b) before commencement of an audit.

Obtain a list of expenditure in respect of which payment has been made/ is to be made for goods services and facilities (including remuneration and interest to partners) to the above mentioned categories of persons.

19.Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC.

20.Any amount of profit chargeable to tax under section 41 and computation thereof.

Take a brief look towards the amounts credited to parties & remained till the closing balance. Such may be the amounts, which might have received out of bad debts recovered.

Obtain copies of last three years profit & loss a/c.s , see the bad debts written off & get a list of parties. The parties may still be dealing with concern ,but concern might have squared off some disputable amounts, in such a case go through amount to amount received and get explanation of the amounts received against specific bills. The unclaimed amounts by any bills may be the amounts against bad debts.

Confirm the capital receipts, whether they belong to such amounts squared off earlier.

21.*(i)In respect of any sum referred to in clause (a),(c),(d) or (e) of section 43B, the liability for which,-

43B Following deductions shall be allowed only on actual payments.

(a)Tax duty cess or fee

(c) Bonus or commission which otherwise would not have been paid as profits or dividend

(d)Interest on any loan or borrowing from any public financial institution , in accordance with the terms and conditions of the agreement governing such loan or borrowings.

(e)Interest on any term loan from a scheduled bank.

(A)  pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was

(a)paid during the previous year;

(b)not paid during the previous year;

(B) was incurred in the previous year and was

(a) paid on or before the due date for furnishing the return of income of the previous year  under section 139(1);

(b) not paid on or before the aforesaid date.

If State Government amends Sales Tax Act to the effect that the sales tax differed under a scheme shall be treated as actually paid, the statutory liability shall be treated as discharged for sec.43B [Cir,496(F.No.201/34/86)-IT(A-II)Dt.25/09/1987]

Obtain the copies of the orders passed by the taxation authorities to confirm the liability.

Check the tax accounts

Get declarations about the liabilities in these clauses which pre-existed on the first day of the year.[D-12]

(ii)In respect of any sum referred to in clause (b) of section 43B, the liability for which-

[43B(b) Deduction shall be allowed only on actual payments.:-Contribution to any providend fund or superannuation fund or gratuity fund or any other fund for the welfare of the employees.]

(A) Pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year:

(a)  nature of liability;

(b) due date for payment under second proviso to section 43B;

(c) actual date of payment;

(d) if paid otherwise than in cash, whether the sum has been realised within fifteen days of the aforesaid due date;

(B) was incurred in the previous year:

(a) nature of liability

(b) due date of payment under second proviso to section 43B;

(b)actual date of payment;

(d) if paid otherwise than in cash, whether the sum has been realised within fifteen days of the aforesaid due date.

Obtain the copies of the orders passed by the taxation authorities to confirm the liability.

Check the tax accounts

Get declarations about the liabilities in these clauses which pre-existed on the first day of the year.

*State whether sales tax, customs duty, excise duty or any other indirect tax, levy, Cess, impost, etc., is passed through the profit & loss account.

22.(a)Amount of Modified Value Added Tax credits availed of or utilised during the previous year and its treatment in the profit and loss account and treatment of outstanding Modified Value Added Tax credits in the accounts.

Confirm the credits taken at the end of the year. See whether they are recorded in the books of RG-23 etc.

Take a declarations regarding the same, about the utilised or unutilised.[D-13]

(b)Particulars of income or expenditure of prior period credited or debited to the profit and loss account.

Confirm the item 11(d) in the form & see whether any item found to be reported.

23.Details of any amount borrowed on hundi or any amount due thereon (including interest on the amount borrowed) repaid, otherwise than through an account payee cheque.[Section 69D]

69D:-Amounts Borrowed or Repaid on Hundi:-If the amount so borrowed or repaid is not by account payee cheque ,such amount shall be the income of the person so borrowing or repaying.[Expl:-The amount so repaid shall also include the interest paid while repaying the amount.]

24.(a)* Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year:-

269SS:-Mode of taking or accepting certain loans and deposits.[Limit is Rs.20,000/-w.e.f. 1-4-89]

  (i) name, address and permanent account number(if available with the assessee)of the lender or depositor;

  (ii) amount of loan or deposit taken or accepted;

  (iii) whether the loan or deposit was squared up during the previous year;

  (iv) maximum amount outstanding in the account at any time during the previous year;

  (v) whether the loan or deposit was taken or accepted otherwise than by an account payee cheque or an account payee bank draft.

When it is not possible to check through the records the valid evidence of crossed cheque transactions the auditor may put a note to that effect.

Note:-It is not possible for me/us to verify whether loans or deposits have been taken or accepted otherwise than by an account payee cheque or account payee bank draft as the necessary evidence is not in the possession of the assessee.[Ref:-Guidance notes ICAI]

This section do not apply to the person from whom the loan or deposit is taken or accepted and the person by whom the loan or deposit is taken or accepted are both having agricultural income and neither of them has any income chargeable to tax.

(b)Particulars of each repayment of loan or deposit in an amount exceeding the limit specified in section 269T made during the previous year:-

269T:-Mode of repayment of certain deposits[Limit is Rs.20,000/-w.e.f. 1-4-89]

(i) name, address and permanent account number(if available with the assessee)of the payee;

(ii) amount of the repayment;

(iii) maximum amount outstanding in the account at any time during the previous year;

(iv) whether the repayment was made otherwise than by account payee cheque or account payee bank draft.

*(These particulars need not be given in the case of a Government company, a banking company or a corporation established by a Central, State or Provincial Act.)

25.Details of brought forward loss or depreciation allowance, in the following manner to the extent available:

Obtain the copies of last assessment order and returns filed as well as the computation of the income.

26.Section-wise details of deductions, if any, admissible under Chapter VI-A.

Following is the list of deductions which can normally be considered for this clause

a. 80CCC:-Pension Fund # Individuals [Max Rs.10000/-]

b. 80D:- Medical insurance premia # Individuals & HUFs [Max Rs.10000/-] [For Senior Citizen Rs.60000/-w.e.f.a.y.2000-2001]

c. 80DD:- Maintenance including medical treatment of handicapped dependant. # Resident individuals or Res.HUFs[Rs.40000/-]

d. 80DDB:- Medical Treatment Expenses # Resident individuals or Res.HUFs [Rs.40000/- max [For Senior Citizen Rs.60000/-]]

e. 80E:- Repayment of loan taken for higher studies # Individuals [Rs.40000/-max 8yrs.w.e.f.a.y.2001-2002 [conditions apply]]

f. 80G:- Donations to certain funds, charitable institutions # All Assessees

g. 80GG:- Rent paid for furnished / unfurnished accommodation # Individuals

h. 80GGA:- Certain donations for scientific research or rural development # All Assessees not having any income chargeable

  under the head “Profits & Gains of  business or profession”

i. 80HHB :- Profits & gains from projects outside India.

j. 80HHC :- Tax incentive for exports.

k. 80HHE:-Profit from exports of computer software.

l.  80 IA:-Profit & gains from industrial undertaking or enterprises engaged in infrastructure development.

m. 80L:- Interest of certain securities ,dividends etc. # Individuals & HUFs

n. 80U:- Income of totally blind or physically handicapped persons # Resident individuals [Rs.40000/- max]

NOTE:- Other deductions are more or less specifically given ,thus they are not considered above .Pl. go through Act for them.

  The deduction should be restricted to the items covered under books of accounts.

27.(a) Whether the assessee has deducted tax at source and paid the amount so deducted to the credit of the Central Government in accordance with the provisions of Chapter XVII-B.

Go through the records and answer accordingly, also check the ledger accounts and challans for the same.

See the forms filed for TDS details:-

Form No.24:-Return for TDS on Salary.

Form No.25:-Return for TDS on interest on securities.

Form No.26:-Return for TDS on Dividends / Units.

Form No.26A:-Return for TDS on interest other than “Interest on securities” U/s.206[Form26].

Form No.26C:-Return for TDS on payments to contractors or subcontractors.

Form No.26J:-Return for TDS on rent.

Form No.26K:-Return for TDS on fees for professional or technical services.

(b) If the answer to (a) above is in Negative, then give the following details:

28.(a)In the case of a trading concern, give quantitative details of principal items of goods traded:

(i)Opening stock;

(ii)Purchases during the previous year;

(iii)Sales during the previous year;

(iv)Closing stock;

(v)shortage/excess,if any.

(b)In the case of a manufacturing concern, give quantitative details of the principal items of raw materials, finished products and by-products:

A. Raw materials:

(i)opening stock;

(ii)purchases during the previous years;

(iii)consumption during the previous year;

(iv)sales during the previous year;

(v)closing stock;

(vi)*yield of finished products;

(vii)*percentage of yield;

(viii)shortage/excess, if any.

B. Finished products/By products:

(i)opening stock;

(ii)purchases during the previous year;

(iii)quantity manufactured during the previous year;

(iv)sales during the previous year;

(v)closing stock;

(vi)shortage/excess, if any.

* Information may be given to the extent available

Obtain a copy of assessment order ,stock statement submitted to bankers

Also check inventory records of the entire year.

29.In the case of a domestic company, details of tax on distributed profits under section 115-O in the following form:-

115O:-Tax on distributed profits of domestic companies

(a)total amount of distributed profits;

(b)total tax paid thereon;

(c)dates of payment with amounts.

30.Whether any cost audit was carried out, if yes, enclose a copy of the report of such audit [See section 139(9)]

139(9):-Where the assessing officer considers that the return of income furnished by the assessee is defective, he may give him an opportunity to rectify the defect to assessee.

31.Whether any audit was conducted under the Central Excise Act,1944, if any, enclose a copy of the report of such audit.

32.Accounting ratios with calculations as follows:-

(a) Gross profit/Turnover;

(b) Net profit/Turnover;

(c) Stock-in-trade/Turnover;

(d) Material consumed/Finished goods produced.

This clause is not applicable for assesses carrying on profession

While working out Stock-in-trade/Turnover ratio, stock of any finished goods should be considered [Guidance Notes ICAI]

-:STANDARD DECLARATIONS REQUIRED:-DDD

• Get an Authorisation stating that the partner who is signing the declarations is authorised to declare the facts on behalf of the remaining partners.
• Obtain a true copy of the partnership deed signed by all the partners.[D-1]
• Declaration stating that there has been no change in the profit sharing ratios during the year by all the partners.[D-2]
• btain a list of books of accounts maintained by the assessee.[D-3]
• Declaration that the activity is the same & no other activity is being conducted.[D-4]
• Take a declaration from the client the details as in declaration [D-5] AS BELOW

Details of Proforma credit, drawback, refund of duties admitted as due but not credited to P&L A/c.

• If last year the audit is not conducted by us, get a declaration that the opening WDV of the fixed assets is correct.[D-6]
• Declaration that the amount of bonus or commission was not otherwise payable to the employees as profit or dividend.[D-7]
• Take declaration about the due date of payment of provident fund or superannuation fund or any other fund [D-8]
• Take a declaration regarding the working partners.[D-9]
• Take declaration regarding the salary, bonus, interest paid/ charges.[D-10]
• Take declaration stating the contingent liabilities.[D-11]
• Get declarations about the liabilities in 43B (a),(b),(c),(d),(e) which pre-existed on the first day of the year.[D-12]
• Take a declarations regarding the MODVAT utilised or unutilised.[D-13]

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