B.A. LL.B. (Five Years) Sem 8 Taxation Laws Apr 2011 Question Paper - Mumbai University | munotes

Questions asked in this paper

Q.1 Q.1: Write short answer, not more than two sentences (20 Marks - 2 marks each)

1. (a) What is Capital gain under the Income Tax Act?
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2. (b) What is Annual Value under the Income Tax Act?
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3. (c) Define Dealer under the VAT Act.
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4. (d) Define "cultivate personally" under the VAT Act.
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5. (e) What is the 'C' Form under the Central Sales Tax Act?
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6. (f) Define Assessee under the Wealth Tax Act.
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7. (g) Define Capital Asset under the Income Tax Act.
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8. (h) What is Belated Return under the Income Tax Act?
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9. (i) Define Annual Information Return under the Income Tax Act.
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10. (j) Define Sales under the Central Sales Tax Act.
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Q.2 Q.2: Write short notes on any four (20 Marks - 5 marks each)

1. (a) Manufacturer under the VAT Act.
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2. (b) Declared goods under the Central Sales Tax Act.
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3. (c) Business Audit under the VAT Act.
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4. (d) Net Wealth under the Wealth Tax Act.
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5. (e) Income from other sources under the Income Tax Act.
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6. (f) Unexplained investment under the Income Tax Act.
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Q.3 Q.3: Solve the following with reason, any two (12 Marks - 6 marks each)

1. (a) 'A' of Mumbai sells goods to 'G' of Ahmedabad. When the goods are in transit, 'G' transfers the L/R in the name of 'C' of Chennai. Whether such sale attracts the applicability of the Central Sales Tax Act.
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2. (b) Decide whether the following commodities can be regarded as goods under the VAT Act: (i) Newspaper (ii) Software (iii) Trademark.
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3. (c) XYZ Ltd. is a registered company under the Companies Act, 1956. The company derives its entire income from overseas operations. The Company contends that it must be treated as Non-Resident. Decide.
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Q.4 Q.4: Answer the following elaborately, any four (48 Marks - 12 marks each)

1. (a) Discuss the Penalty and offences under the provisions of the MVAT Act.
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2. (b) Explain when a sale or purchase of goods is said to take place in the course of inter-state trade or commerce under the Central Sales Tax Act.
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3. (c) Critically examine the provisions relating to "Assessment" under the VAT Act.
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4. (d) Explain the provisions relating to the "Search and Seizure" under the Income Tax Act.
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5. (e) Discuss the provisions regarding set off and carry forward of losses under the Income Tax Act.
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6. (f) Enumerate the provisions relating to the Assets which are exempt from Wealth Tax under the Wealth Tax Act.
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