Tag: osmania university llb 6th semester previous question papers

16. A promised to marry& girl B and gifted to her 10,00 shares, having face value of Rs 100 each share on 10™ April 2008. He then married B. in August 2008. During the year 2008-09 the shares so gifted yielded 2 gross dividends of RS 100000 Explain in whose hands the amount is taxable ?

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgements A. Section 64(1)(iv) of the […]

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 […]

13“The assessee during the financial year, has invested FD a sum of R5.5,00,000/- in the name of his wife who is a house wife having no income of her own and not an assessee. The assessee doesn’t want to show the interest accrued on the FD and seeks your clarification and advise, As a Tax Consultant advise your client.

1. Facts of the Case The assessee (your client), during the relevant financial year, has invested a sum of ₹5,50,000 in a Fixed Deposit (FD) […]

  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 […]

 10. X estimated his income for F.Y.2015-2016 and calculated tax a sum of Rs.25,000 for the purpose of advance tax. He has paid the 1st installment in time i.e. before 15 September 2015. He has failed to pay balance two installment i.e. before 15th December and 15th March 2016. He paid the balance by way of self assessment tax and filed the returns on 15th December, 2016. Calculate the interest for default of two advance tax installment and for late filing returns.

1. Facts of the Case Mr. X, an assessee, estimated his tax liability at ₹25,000 for the Financial Year 2015–16 (Assessment Year 2016–17) and intended […]

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 […]

7. ‘A’ an Assessee, is a partner in a firm created a trust. By a settlement deed he assigned his profits of ten percent [right, title, interest (excluding capital] in the firm to the trust. He claimed his income transferred to trust as diversion of income. Is he legally justified?

1. Facts of the Case Mr. A, an individual assessee, is a partner in a firm. Through a settlement deed, he has created a trust […]