LL.B. (Five Years) Sem 10 Law of Taxation Apr 2025 75/25 Question Paper - Mumbai University | munotes

Questions asked in this paper

Q.1 Answer any six of the following, any 6 of 8 12 Marks

1. (a) What is the difference between direct taxes and indirect taxes?
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2. (b) Define 'Assessee' as per the provisions of Income Tax Act, 1961.
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3. (c) What is tax collected at source?
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4. (d) What are specified businesses as per the provisions of Income Tax Act, 1961?
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5. (e) Define 'Goods' under the CGST Act.
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6. (f) Define 'Profession Tax' under The Maharashtra State Tax on Profession, Trades, Callings and Employment Acts, 1975.
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7. (g) What is the difference between short term and long term capital assets?
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8. (h) What is dual GST model in India?
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Q.2 Answer any two of the following, any 2 of 4 12 Marks

1. (a) Elaborate the meaning of tax planning, tax avoidance and tax evasion.
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2. (b) Explain the concepts of revenue receipts, capital receipts, revenue expenditure and capital expenditure.
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3. (c) Income tax authorities under the Income Tax Act, 1961.
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4. (d) Write a note on Integrated Goods and Services Tax.
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Q.3 Answer any two of the following, any 2 of 4 12 Marks

1. (a) Whether the following acts can be considered as tax planning or tax management or tax evasion or tax avoidance? Specify with the reason.
   • (i) Mr. Rahul deposit Rs.1 lakh in PPF account to reduce his total income from Rs. 6 lakh to Rs. 5 lakh.
   • (ii) To reduce tax payable, Ganesh, a resident individual, paid Rs. 55,000 as life insurance premium on the policy of his minor son.
   • (iii) Company claiming depreciation on the motor car which is being used by director for personal purposes.
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2. (b) ABC Ltd., a foreign company, has its head office at USA. The Board of Directors meetings were held in USA. However, the Board of Directors has delegated major powers to a committee in Mumbai and the members of this committee are based in Mumbai.
   • (i) Discuss the place of effective management (POEM) of XYZ Ltd.
   • (ii) Discuss the guiding factors of POEM for Board of Directors delegating authorities to Committee.
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3. (c) Epique Co. Ltd. incurred an expenditure of Rs. 10 lakhs on the litigation to protect its business. Examine with the help of a decided case law, whether the above expenditure is revenue or capital in nature.
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4. (d) Determine the tax liability of income of Japan based company Jijutsu Ltd., in India on entering following transactions during the financial year 2024-25:
   • (i) Rs. 5 lakhs received from an Indian domestic company for providing technical know-how in India.
   • (ii) Rs. 4 lakhs from a non-resident for use of patent for a business in India.
   • (iii) Rs. 8 lakhs from a non-resident Indian for use of know-how for a business in Singapore.
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Q.4 Answer any three of the following, any 3 of 5 39 Marks

1. (1) Define 'Agricultural Income' under the Income Tax Act, 1961, elaborate its meaning in the light of the Supreme Court judgement in CIT v. Raja Benoy Kumar Sahas Roy (1957).
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2. (2) Discuss in detail the provisions related to Income from House Property under the Income Tax Act, 1961.
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3. (3) What is the significance of the residential status of an assessee? Explain the parameters to determine residential status and scope of total income.
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4. (4) Discuss in detail various powers of income tax authorities under the Income Tax Act, 1961.
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5. (5) Discuss 101st Constitutional Amendment Act, 2016 and list down its objectives.
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