CCSU BA LLB - Law of Taxation - 2020 - Old question paper

BA LLB 10th Semester Examination, June 2020
Law of Taxation
(BL-9007)

Section A
Note: Attempt all questions. Each question carries 4 marks

1. What is capital gains?
2. What is Net-wealth?
3. Define agriculture Income.
4. Explain the sale in the course of export or import.
5. What are the objectives of tax planning?

Section B
Note: Attempt any two question. Each question carries 10 marks

6. Define income and distinguish it from casual income. Whether income from lotteries and gambling are taxable? Explain.
7. How is the tax liability of a firm determined? Explain.
8. Define previous year. Briefly discuss the recent changes in the definition and their effect on the assessees.

Section C
Note: Attempt any three question. Each question carries 20 marks

9. Define capital asset. What capital assets are not liable to capital gains? State the transactions which are not regarded as transfers for taxing the capital gains.
10. Discuss the orders against which an appeal can be filed before the appellate tribunal. Briefly state the procedure of appeal.
11. Explain the appointment of various important Wealth Tax authorities and their powers and functions under the Wealth Tax Act, 1957.
12. Define Perquisites. How are these valued? What are tax free perquisites?
13. Write sort note on any two:

(a) Best judgement assessment.

(b) Re-assessment

(c) Commissioner, CHief commissioner and Chief director.