1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered Section 234C – Interest for Deferment of Advance Tax Section […]
Tag: osmania university llb 6th semester previous question papers
51.The assessed dependent brother has to undergo bypass surgery and was hospitalized. The assessee has paid Rs.65,000 for his treatment. The assesse claimed deduction under section 80DDB towards the medical treatment expenses. The assessing officer disallowed. his claim and added the medical expenses to his income and levied tax. Defend your client!
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 80DDB of the Income Tax Act, 1961 B. […]
50. The Assessee purchased a flat in July 2013 on a loan and started paying EMI from the date of receipt of the loan. The assessee will receive the possession of the house in August 2014, whether the interest benefit will be available for the to the assesse assessment year 2014-2015 (F.Y.2013-2014)? If ‘Yes’ why and if “Not, why? Explain.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 24(b) of the Income Tax Act, 1961 B. […]
49. The assessee during the financial year, has invested FD a sum of Rs.5,00,000/- in the name of his wife who is a housewife having no income of her own and not an assessee. The assessee doesn’t want to show interest accrued with the FD and seeks your clarification and advice, as a Tax Consultant advises your client.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 64(1)(iv) – Clubbing of Income B. Key Judicial […]
48. 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 surgery and treatment a sum of Rs, 3,00,000/- and claimed exemption u/s 80DDB a sum of Rs.60,000I The assessing officer rejected the claim and levied tax. Is the assessing officer correct or not? As department counsel defends the assessing officer with reasons.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 80DDB of the Income Tax Act, 1961 B. […]
47. an importer at Delhi imported the goods from “Y” of London and after obtaining clearance from customs: he sold the goods to buyer in Indian and claimed exemption, but the sales tax officer rejecting the claim of “X’ levied tax under the Central Sales Tax treating.it as not a sale in the course of import. Whether the assessing officer is correct? Defend your client.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 5(1) and 5(2) of CST Act, 1956 B. […]
46. ‘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 [Questions] 3. Legal Principles Covered A. Section 5 of the Income Tax Act, 1961 B. […]
45. X estimated his income for FY. 2011-12 and calculated tax at Rs.25,000 for the purpose of advance tax. He has paid for the 1S installment in time i.e… before 15th September 2011. He has failed to pay the balance of two installments i.e. before 15th March 2012. He paid the balance by way of self-assessment tax and filed the return on 15′ December 2012. Calculate the interest in default of two advance tax installments and for late filing of returns.
1. Facts of the Case 2. Issues in the Case [Questions] 3. Legal Principles Covered A. Section 234C – Interest for deferment of advance tax […]
44. A government employee draws Rs.20,000/- p.m., receives HRA of Rs.24,000/- And he resides in his own house. He paid total house loan principal of Rs.15.0004- and interest Rs.60,0001- P.F. 10,000/-, LIC 5000/-, Tuition fee 30,000/- He has undergone treatment for renal failure in a private hospital where he was treated by a general physician. He claimed deduction u/s 80 DDB. You as an assessing officer calculate his taxable income. The assessee version is only a transfer of stock to its depot. Give your opinion with reason?
1. Facts of the Case The assessee is a government employee with the following income and expenses: 2. Issues in the Case [Questions] 3. Legal […]
43. 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 Mr. X is a resident individual aged 64 years during the relevant financial year. His gross total income (before deductions […]