The Indian Bar Councils Act, 1926 was a landmark legislation that laid the foundation for regulating the legal profession in India before the enactment of […]
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3.Define an Industrial Design. Explain different Rights vested in the holders of Designs.
What Is an Industrial Design? An industrial design refers to the visual features of a product that make it appealing and distinctive. These features may […]
A statutory provision is capable of bearing two interpretations. One interpretation IS fully serving the object and purpose of legislation, whereas the other interpretation is not fully serving the purpose of legislation. Which interpretation is preferable? Give reasons.
Facts in the Case Issues in the Case Principles Applied 1. Purpose or Beneficial Construction Rule 2. Rule of Harmonious and Contextual Interpretation 3. Judicial […]
There an irreconcilable contradiction between two sections of the same Act. What is the rule of interpretation in such a case? Discuss.
Facts in the Case Issues in the Case Principles Applied 1. Rule of Harmonious Construction Case Law: Raj Krishna v. Binod AIR 1954 SC 202 […]
A makes a gift of Rs.50,000 to his friend B. the gift was made on 01.09,2010. The Income Tax authorities levy income-tax on the gifted amount. The assesse challenges this levy. Decide.
Facts in the Case Issues in the Case Principles Applied 1. Section 56(2)(v) and 56(2)(vii) of the Income Tax Act, 1961 2. Applicability to this […]
37. Mrs. Y’ made certain cash gifts for her husband, which he invested in some interest yielding securities. The interest realized in securities was included in the income of Mrs. ‘Y’ by the income tax department, which was objected to by Mrs. ‘Y’. Discuss and decide whether the action of the assessing officer is correct.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 64(1)(iv) of the Income Tax Act, 1961 “In […]
31. Mr. Prakash is a member of HUF, and he throws his self-earned property into the common hotchpot of the family. The members are his elder brother, brother’s wife, their two minor sons and his own wife and two minor daughters. The self-earned property is Rs. 20,00,000 and it fetches income of Rs 3,00,000 Per annum. Asses taxable income of HUF.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Conversion of Self-Acquired Property into HUF Property Therefore, Mr. […]
23. M. X has 3 house properties, 2 are self-occupied: 1 of them is offered for rent. Interest paid on a home loan of both the self-occupied: property is Rs 3.00 lakhs and interest paid on let out property is Rs. 2.5 lakhs. What deductions can be claimed by him under house property income? PTR.
1. Facts of the Case Mr. X now seeks to determine how much deduction of interest he is eligible to claim under the head “Income […]
A sold his only house property occupied by him as a residential house for Rs.15,00 000 in December 2008. The house property was purchased by him in the month of January 1984 for a consideration of Rs.10,00,000. Determine the capital gain.
1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered A. Section 2(29A) & 2(42A) – Definition of Long-Term Capital Asset […]
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