LLB 3 Years Sem 4 Taxation Laws May 2012 Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Write short answer (not more then two sentences) :— 20 marks
   • (a) What is capital receipt and under Income Tax Act ?
   • (b) What is annual value under Income Tax Act ?
   • (c) What is the object of MVAT Act ?
   • (d) What is Capital gain under Income Tax Act ?
   • (e) What is Cash Credit u\s.68 of Income Tax Act ?
   • (f) What is the Transfer of document of little under the CST Act ?
   • (g) What is set-off under the MVAT Act ?
   • (h) Define “assessee” under Wealth Tax Act ?
   • (i) Define “Appropriate state” under CST Act ?
   • (j) What is Revenue Receipt under Income Tax Act ?
2. Q2 Write short notes on (any four) :— 20 marks
   • (a) Business Audit under MVAT Act
   • (b) Net Wealth under Wealth Tax Act
   • (c) Sale under CST Act
   • (d) Sale Price under MVAT Act
   • (e) Income under Income Tax Act
   • (f) Scrutiny Assessment under Income Tax Act
3. Q3 Soive the with reasons (any two)
   • (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 it. Mr. ‘B’ has been a relative of Mr. ‘A’?
   • (b) ‘A’ of Mumbai sale the good to ‘G’ of when the good are in transit ‘G’ transfer the L/R in the name of ‘C’ of Chennai. Whether such sale attract the applicability and CST Act ? Decide
   • (c) State whether the following persons are treated as dealer “under the MVAT Act
   • (ii) Educational institution cultivating land personally and selling agricultural produce their in
4. Q4 Answer the following elaboratorly (any four) :— 48 marks
   • (a) Discuss the return of wealth and explain wealth escaping assessment Under
   • (b) Define the declare goods Under CST Act
   • (c) Fully explained the Deemed Assets under Wealth Tax Act
   • (d) Explain the different kind of Assessment under Income Tax Act
   • (e) Discuss the Penalty and Offences provisions under MVAT Act ?
   • (f) Define the Salary ? Enumerate the’deduction available in respect of Salary

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