CA Final Group II : Direct Taxes - November 2003

CA Final - Group IIDirect Taxes • November 2003
This Paper has 27 answerable questions with 0 answered.
Roll No………
Total No. of Questions—8][Total No. of Printed Pages—6
Time Allowed : 3 HoursMaximum Marks : 100
Answers to questions are to be given only in English except in the cases of candidates who have opted for Hindi medium. If a candidate who has not opted for Hindi medium, answers in Hindi, his answers in Hindi will not be valued.
Answer all Questions.
1.(a)12 (0)
 (b)4 (0)
2.(a)4 (0)
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 (c)4 (0)
3.(a)5 (0)
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4.(a)4 (0)
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5.(a)3 (0)
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 (c)Discuss the following propositions :  
  (i)3 (0)
  (ii)3 (0)
  (iii)2 (0)
6.(a)5 (0)
 (b)4 (0)
 (c)Explain with reasons about the taxability of the following transactions for the Assessment year 2003-04 :  
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7.(a)6 (0)
 (b)3 (0)
8.(a)State with reasons whether the following constitute assets chargeable under Wealth Tax Act as the wealth of Raja, a former ruler? (Assume that there is taxable wealth as on valuation date 31-03-03):  
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 (b)2 (0)
 (c)Return of net wealth declaration wealth of Rs. 55.50 lakhs for Assessment year 2000-01 was filed by Ravi on 30-09-01. The Assessing Officer issued notice u/s 16(2), which was served upon the assessee on 28-02-02. The assessment was completed by the Assessing Officer on 13-03-03 on the wealth of Rs. 85 lakhs. Ravi wants to know:4 
  (i)   (0)
  (ii)   (0)