CS Final Group III : Direct and Indirect Taxation Law and Practice - June 2008

This Paper has 46 answerable questions with 0 answered.
Roll No………
Time allowed : 3 hoursMaximum marks : 100
Total number of questions : 8Total number of printed pages : 3
PART—A
(Answer any two questions from this part.)
1.A company claims deduction of certain expenditures in computation of its total income under the Income–tax Act, 1961. Consider the allowability or otherwise of the following expenditures giving brief reasons for your answers :   
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 (ii)  (0)
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(4 marks each)
  
2.(a)  (0)
 
(7 marks)
  
 (b)  (0)
 
(7 marks)
  
 (c)Discuss briefly whether the following returns can be revised under section 139(5) of the Income–tax Act, 1961 :  
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  (ii)   (0)
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(1 mark each)
  
3.(a)  (0)
 
(5 marks)
  
 (b)  (0)
 
(5 marks)
  
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(10 marks)
  
PART—B
(Answer any four questions from this part)

 
4.(a)  (0)
 
(5 marks)
  
 (b)  (0)
 
(5 marks)
  
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(5 marks)
  
5.(a)Re–write the following sentences after filling–up the blank spaces with appropriate word(s)/figure(s) :  
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(1 mark each)
  
 (b)Examine whether the following activity amounts to ‘manufacture’ within the meaning of section 2(f) of the Central Excise Act, 1944 :  
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(3 marks each)
  
6.(a)  (0)
 
(5 marks)
  
 (b)  (0)
 
(4 marks)
  
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(4 marks)
  
 (d)  (0)
 
(2 marks)
  
7.(a)  (0)
 
(7 marks)
  
 (b)Krishna, a manufacturer of dutiable as well as exempted goods, supplies the following information for the month of January, 2007 :  
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(2 marks each)
  
 (c)  (0)
 
(3 marks)
  
8.(a)State, with reasons in brief, whether the following statements are correct or incorrect :  
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(2 marks each)
  
 (b)  (0)
 
(3 marks)