I.D.
END TERM EXAMINATION, APRIL-2018
B.A.LL.B. (HONS.)
SEMESTER-VIII &X
CLS- Corporate Tax Hons. II)
Max. Marks: 60 Time Allowed: 3:00 Hrs.
Note: Answer five questions including Question No. 1 which is compulsory. The number of marks carried by each
question is indicated at the end of the question.
1. Explain the following (each explanation should be in approximately 100 words): (Marks 2×10=20)
Meaning of Indian company
Foreign Company
Closely held company
Receipt of income
Domestic company
Resulting company
Amalgamating and Amalgamated company
Methods of granting reliefs under Avoidance of Double Taxation Agreements
Book Profit
When Minimum Alternate Tax provision is not applicable to a Foreign Company?
2. Explain the circumstances when an income is deemed to accrue or arise in India (Marks 10)
3. Answer the following:- (Marks
State in brief the provisions relating to carry forward and set-off of business losses.
On April 2016 Mr. A and Mrs. A purchased all the shares of X Pvt. Ltd. X Pvt. Ltd. had the unabsorbed
losses and allowances as follows:
Accumulated loss Rs. 5 Lakh
Unabsorbed Depreciation Rs. 7 Lakh
State the effect of change of shareholdings on the right of the company to carry forward the above items.
4. Answer the following:- (Marks
Under what circumstances an assessing officer may alter the net profit of a company?
What adjustments may be made to convert a net profit into a Book Profit?
5. Answer the following:- (Marks
How residential status of a company is determined?
What are the rules generally incorporated under the Double Tax Avoidance Agreements?
6. Answer the following:- (Marks
How is written down value of a block of assets in the hands of transferor determined in the case of slump
sale?
State the provisions for computation of capital gains in case of slump sale.
7. State the provisions of the Income Tax Act relating to transfer of assets between holding and subsidiary
companies. (Marks 10)