Author: Raghu Unnam

14. ‘X” Ltd. is an Indian subsidiary of an American company manufacturing and selling copier machines. The Indian company among other things purchases and sells these copier machines also. Does any part of the profits of the sales of American company to the Indian company accrue or arise in India? Discuss.

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 5 and Section […]

  12. The assessee’s dependent mother a senior citizen had open heart surgery performed by a general surgeon in a private hospital, and he has incurred expenses towards surgerysand treatment a sum of Rs. 3.00,000/- and claimed exemption u/s 80DDB a sum of Rs.60,0001 The assessing officer rejected the claim and levied tax. Is the assessing officer correct or not? As department counsel defend the assessing officer with reasons

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 80DDB of the […]

11. The assesse is a senior citizen and he has a house property which was purchased in the year 1967. He has invested sufficient amount for extension and improvement in the year 1983. He sold the house for Rs.56 lakhs in the year 2006. After calculating the index value of the cost price of the property as on 2006, the capital gain arise was Rs.49.80,000. The assesse has deposited the capital gain in capital gain account with SBI for a lock in period of 3 years. The assesse failed to invest the capital gain in purchase of the house nor in constructing the house. After maturity of the deposit can the assess withdraw the deposit, if so what is the procedure? Whether the assesse is liable to pay capital gain tax or he need not pay the tax?

1. Facts of the Case 2. Issues in the Case (Questions) 3. Legal Principles Covered to Support Case Proceedings and Judgements Section 54 of the […]

9. The assesse’s dependent brother has to undergo bypass surgery and was hospitalized. The assesse has paid Rs.65,000 for his treatment. The assesse claimed deduction under section $0DDB towards the medical treatment expenses. The assessing officer disallowed his claim and added the medical expenses to his income and levied Defend your client?

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 80DDB of the […]

8. The Assess purchased a flat in July 2013 on a loan and started paying EMI from the date of receipt of the loan. The assesse will receive the: possession of the house in August 2014, whether the interest benefit will be available to the assesse for the assessment year 2014-2015 (BY:2013-2014)2 1 “Yes! why and if ‘Not! why? Explain

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 24(b) – Deduction […]

 4. The gross total income before deduction under section. 80C of ‘X’ a resident individual, aged 64 years is Rs.3,20,000/- and total income after deduction under sec 80C is Rs.2,85,000. Is it necessary for him to submit his return of income voluntarily?

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 139(1) of the […]

1. A person has sustained a loss of Rs. 1 lakh in his speculative business. He wants to claim set-off of this loss from his income of Rs.30,000 received under the head income from house property. Will he be allowed to do so under the law? Decide with reasons.

This case involves a taxpayer who has incurred a loss in a speculative business and seeks to offset that loss against income from house property. […]