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

Questions asked in this paper

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

1. Q1 What is Capital gain under the Income Tax Act?
2. Q2 What is Annual Value under the Income Tax Act?
3. Q3 Define Dealer under the VAT Act.
4. Q4 Define "cultivate personally" under the VAT Act.
5. Q5 What is the 'C' Form under the Central Sales Tax Act?
6. Q6 Define Assessee under the Wealth Tax Act.
7. Q7 Define Capital Asset under the Income Tax Act.
8. Q8 What is Belated Return under the Income Tax Act?
9. Q9 Annual Information Return under the Income Tax Act.
10. Q10 Define Sales under the Central Sales Tax Act.

SECTION II - Q.2: Write short notes on any four (20 Marks - 5 marks each)

1. Q11 Manufacturer under the VAT Act.
2. Q12 Declared goods under the Central Sales Tax Act.
3. Q13 Business Audit under the VAT Act.
4. Q14 Net Wealth under the Wealth Tax Act.
5. Q15 Income from other sources under the Income Tax Act.
6. Q16 Unexplained investment under the Income Tax Act.

SECTION III - Q.3: Solve the following with reason, any two (12 Marks - 6 marks each)

1. Q17 '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.
2. Q18 Decide whether the following commodities can be regarded as goods under the VAT Act: (i) Newspaper (ii) Software (iii) Trademark.
3. Q19 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.

SECTION IV - Q.4: Answer the following elaborately, any four (48 Marks - 12 marks each)

1. Q20 Discuss the Penalty and offences under the provisions of the MVAT Act.
2. Q21 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.
3. Q22 Critically examine the provisions relating to "Assessment" under the VAT Act.
4. Q23 Explain the provisions relating to the "Search and Seizure" under the Income Tax Act.
5. Q24 Discuss the provisions regarding set off and carry forward of losses under the Income Tax Act.
6. Q25 Enumerate the provisions relating to the Assets which are exempt from Wealth Tax under the Wealth Tax Act.

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