LL.B. (Three Years) Sem 4 Taxation Laws May 2012 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 receipt under the Income Tax Act?
2. Q2 What is annual value under the Income Tax Act?
3. Q3 What is the object of the MVAT Act?
4. Q4 What is Capital gain under the Income Tax Act?
5. Q5 What is Cash Credit u/s. 68 of the Income Tax Act?
6. Q6 What is the transfer of document of title under the CST Act?
7. Q7 What is set-off under the MVAT Act?
8. Q8 Define "assessee" under the Wealth Tax Act.
9. Q9 Define "Appropriate state" under the CST Act.
10. Q10 What is Revenue Receipt under the Income Tax Act?

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

1. Q11 Business Audit under the MVAT Act.
2. Q12 Net Wealth under the Wealth Tax Act.
3. Q13 Sale under the CST Act.
4. Q14 Sale Price under the MVAT Act.
5. Q15 Income under the Income Tax Act.
6. Q16 Scrutiny Assessment under the Income Tax Act.

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

1. Q17 Mr. 'A' received a gift of money of Rs. 1,00,000 from his friend Mr. 'B'. State whether the above amount is taxable as income. What would be the position if Mr. 'B' had been a relative of Mr. 'A'?
2. Q18 'A' of Mumbai sells the 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 CST Act? Decide.
3. Q19 State whether the following persons are treated as dealer under the MVAT Act: (i) Bank selling gold coins. (ii) Educational institution cultivating land personally and selling agricultural produce therein.

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

1. Q20 Discuss the return of wealth and explain wealth escaping assessment under the Wealth Tax Act.
2. Q21 Define the declared goods under the CST Act.
3. Q22 Fully explain the Deemed Assets under the Wealth Tax Act.
4. Q23 Explain the different kinds of Assessment under the Income Tax Act.
5. Q24 Discuss the Penalty and Offences provisions under the MVAT Act.
6. Q25 Define Salary. Enumerate the deductions available in respect of Salary Income.

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