LL.B. (Three Years) Sem 4 Taxation Laws Oct 2024 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Ensure that you have received the Correct Question Paper. 2. Do not reveal your identity anywhere on the Answer Sheet. 3. Provide Examples/Illustrations/Citations wherever required/needed.

Q.1 Q.1: Write Short Answers in not more than two sentences, any six (12 Marks - 2 marks each)

1. (a) What is "Annual Value" under the Income Tax Act?
   Read the model answer
2. (b) What is "Short Term Capital Asset" under the Income Tax Act?
   Read the model answer
3. (c) What is "Resale" under the MVAT Act?
   Read the model answer
4. (d) Define "Importer" under the MVAT Act.
   Read the model answer
5. (e) What is Indirect Taxation?
   Read the model answer
6. (f) What is "Crossing the Customs Frontiers of India" under the CST Act?
   Read the model answer
7. (g) When and why was GST introduced in India?
   Read the model answer
8. (h) What is the meaning of "Firm" under the Income Tax Act?
   Read the model answer
9. (i) What is Self-Assessment as per the provisions of the Income Tax Act?
   Read the model answer
10. (j) State when an individual is treated as resident in India.
    Read the model answer

Q.2 Q.2: Write short notes on any two (12 Marks - 6 marks each)

1. (a) Sale and Sale Price under the MVAT Act.
   Read the model answer
2. (b) Explain professional Tax and its applicability.
   Read the model answer
3. (c) UGST.
   Read the model answer
4. (d) Let Out Property.
   Read the model answer

Q.3 Q.3: Answer any two of the following (12 Marks - 6 marks each)

1. (a) Mr. Sukumar has incurred loss in speculative transactions: (i) Can he adjust this loss against the profit from his normal business? (ii) Analyse the facts of the matter.
   Read the model answer
2. (b) State whether the following transactions amount to "Sale" under the MVAT Act: (i) Sale of old capital goods as scrap. (ii) Sale of damaged raw material as scrap. (iii) Sale of finished goods through mercantile agent.
   Read the model answer
3. (c) Ms. Nikita supplied goods of Rs. 30,000 to Mr. Avinash. Discuss with reasons whether this will be treated as a taxable event under the provision of the GST Act.
   Read the model answer
4. (d) Discuss and critically analyse the Vodafone Limited versus Union of India case.
   Read the model answer

Q.4 Q.4: Answer any two of the following (24 Marks - 12 marks each)

1. (a) Discuss any three deductions under Chapter VI-A.
   Read the model answer
2. (b) Explain and analyse the salient Provisions of the GST Act.
   Read the model answer
3. (c) Discuss computation of income under the head "Salaries".
   Read the model answer
4. (d) Discuss and analyse the various Provisions of the Maharashtra State Professional, Trade, Callings and Employment Act, 1975.
   Read the model answer

Read from the scan above, so a character or two may differ. The scan is the original.