CWA ICWA Inter - Group I : Applied Direct Taxes - June 2011

This Paper has 41 answerable questions with 27 answered.
I—P7(ADT)
Syllabus 2008
Time Allowed : 3 HoursFull Marks : 100
The figures in the margin on the right side indicate full marks
Wherever required, the candidate may make suitable assumptions and
state them clearly in the answers.
Working notes should form part of the relevant answers.
All questions relate to the assessment year 2011 – 12 and the provisions stated relate to Income Tax Act, 1961,
unless stated otherwise in the question.
Answer Question No. 1 which is compulsory and any five from the rest.
Marks
1.(a)Fill up the blanks:1x12=12 
  (i)   (1)
  (ii)   (1)
  (iii)   (1)
  (iv)   (1)
  (v)   (1)
  (vi)   (1)
  (vii)   (1)
  (viii)   (1)
  (ix)   (1)
  (x)   (2)
  (xi)   (1)
  (xii)   (2)
 (b)Choose the correct alternative:1x5=5 
  (i)   (1)
  (ii)   (1)
  (iii)   (1)
  (iv)   (1)
  (v)   (1)
 (c)State with reasons whether the following statements are true or false:2x4=8 
  (i)   (1)
  (ii)   (1)
  (iii)   (1)
  (iv)   (1)
2.(a)9 (1)
 (b)6 (0)
3.(a)6 (0)
 (b)1x4=4 (1)
 (c)3 (0)
 (d)2 (1)
4.(a)6 (1)
 (b)5 (1)
 (c)4 (0)
5.(a)6 (0)
 (b)6 (0)
 (c)3 (0)
6.(a)6 (0)
 (b)5 (0)
 (c)4 (0)
7.(a)11 (0)
 (b)4 (0)
8.(a)2 (0)
 (b)7 (0)
 (c)3x2=6 (1)