LL.B. (Three Years) Sem 4 Taxation Laws Dec 2012 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

1. Q1 Define Best judgment Assessment U/IT Act.
2. Q2 Define Assets U/WT Act.
3. Q3 How to determine the residential status of an individual U/IT Act?
4. Q4 What is set-off U/MVAT Act?
5. Q5 Define dealer U/CST Act.
6. Q6 What is Assessment year U/IT Act?
7. Q7 What are the Incomes not liable to tax U/IT Act?
8. Q8 Define India U/WT Act.
9. Q9 Define purchase price U/MVAT Act.
10. Q10 Define goods U/CST Act.

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

1. Q11 Sale price U/MVAT Act.
2. Q12 Transit Sale U/CST Act.
3. Q13 Agricultural U/MVAT Act.
4. Q14 Income U/IT Act.
5. Q15 Dealer U/MVAT Act.
6. Q16 Income from other sources U/IT Act.

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

1. Q17 Whether the following persons are liable to be registered as a Dealer U/MVAT Act: (i) Government department selling old stoves (ii) Agriculturist cultivating the land personally.
2. Q18 If Mr. A of Mumbai sells goods to Mr. B of Bangalore, and when the goods are in transit Mr. B transfers the L/R in the name of Mr. C of Chennai, whether such sale attracts the applicability of the CST Act? Decide.
3. Q19 Whether the sale of the following items from one state to another state will attract the applicability of the CST Act: (i) Sale of Newspapers (ii) Software.

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

1. Q20 Define net taxable wealth and discuss the exempted assets U/WT Act.
2. Q21 Explain the Assessment and relevant penalty provision U/IT Act.
3. Q22 When is a Dealer liable to pay tax U/MVAT Act?
4. Q23 Discuss the return of wealth and explain wealth escaping assessment U/WT Act.
5. Q24 Define the declared goods under CST Act.
6. Q25 Explain the different kinds of Assessment U/IT Act.

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