1. Facts of the Case ‘A’ Company is incorporated with the main object of carrying out the business of constructing residential houses and letting them […]
Tag: osmania university llb 6th semester previous question papers
41. A, while travelling in TSRTC bus, meets with an accident and is temporarily disabled. TSRTC pays an amount of Rs. 10,000 as compensation to him. State whether the amount is revenue receipt or capital receipt.
1. Facts of the Case Mr. A, while traveling on a TSRTC (Telangana State Road Transport Corporation) bus, meets with an accident and sustains temporary […]
40. 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.
1. Facts of the Case A taxpayer has incurred a loss of ₹1,00,000 from a speculative business during the financial year. Simultaneously, he has earned […]
![39. ‘A’ is Assessee, a partner Ina firm created trust. By a settlement deed he assigned his profits of ten percent [right, title, interest (excluding capital)] to the firm to the trust. He claimed his income transferred to trust as diversion of income. Is he legally justified? Discuss.](https://lawgnan.in/wp-content/uploads/2025/07/A-Law-Office-Background-with-a-gavel-scale-and-book-setting-_-Premium-AI-generated-image.png)
39. ‘A’ is Assessee, a partner Ina firm created trust. By a settlement deed he assigned his profits of ten percent [right, title, interest (excluding capital)] to the firm to the trust. He claimed his income transferred to trust as diversion of income. Is he legally justified? Discuss.
1. Facts of the Case The assessee ‘A’ is a partner in a firm. By executing a settlement deed, A assigned 10% of his share […]
38. John is a foreign citizen (not being a person of Indian origin). Since 1990, he visits India every year in the month of May for 99 days. Find out the residential status of John for the assessment year 2014-15 under Income Tax Act, 1961.
1. Facts of the Case John is a foreign citizen, and he is not a person of Indian origin (PIO). He has been visiting India […]
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 […]
36. Shyam, a partner of a firm consists of Madhu, a partnership officer’s two sons and a daughter with his share in the main partnership. Shyam is separated from his wife and is paying maintenance to her. What is his tax liability on the income earned from the main partnership and the amount?
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 10(2A) – Exemption of Share of Profit from […]
35. Mr. Madhu is practicing advocating his wife ‘Roja’ to work in his law firm and draws a salary of 25000Rs. /- While computing the total income for Mr. Madhu the assessing officer clubbed the salary of his wife. Discuss.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 64(1)(iv) – Clubbing of Income Under Section 64(1)(iv) […]
34. An assessee is the owner of an old flat built in 1983. There are 16 flats, and all flat owners decided to hand over their flats for redevelopment. The builder agreed to hand over a new flat along with a compensation of Rs 8 lakhs to each flat owner and retain the rest of the flats by the builder. Whether the compensation is taxable or not? What will the tax liability be for the exchange of new flats for the old one? If the assessee is liable for any tax, advise your client how to avoid the tax liability?
1. Facts of the Case The assessee seeks clarity on: 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 2(47) – Definition […]
33. The assessee is a salaried doctor and has a house loan of Rs. 8 lakhs. He has been paying EMI for the past 2 years. His father is a retired government servant and planning to sell his 2 acres land, the proceeds of which he will pay for the loan of the assessee. The assessee seeks your advice whether the assessee have to pay tax on the amount which his father is paying for his housing loan or is there an exemption on the amount earned by the fertile agricultural land? whether the assesse’s father is liable to pay tax on amount earned from agricultural land?
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Taxability of Loan Repayment by a Relative Therefore, the […]