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Direct Tax Summary Notes – May 2017 Exam

Direct Tax Summary Notes

Direct Tax Summary Notes – May 2017 Exam is available in CAKART Website. The Excellent download file is available in PDF format.This notes was written . This Direct Tax Summary Notes explains the concept of Direct Tax in a very simple approach with tables and easy comparisons

Direct Tax Summary Notes

Direct Tax Summary Notes

Subject Title

Author Names

 Ca Final Isca Book (Printed) By Ca Kunal Agarwal

Kunal Agarwal 

 Bharat Information Systems Control And Audit (Isca)

 Manoj Agarwal

 Ca Final Information Systems Control & Audit By Dinesh Madan For Ca Final May 2017 Exams & Onwards

 Dinesh madan

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Along with this, Read CA Final SFM theory notes for downloading top faculty latest notes for ca final SFM subject.

Scroll Down and Download Direct Tax notes for May 2017

CA Final Direct Tax (DT) Selected Case Law & Summary for May 2017

ICAI CA Final Direct Tax Selected Case Laws for May 2017 and the Case Law Summary of the entire Direct Tax part is provided here. These CA Final Direct Tax Selected Case Laws are issued by ICAI. It is a tough task to cover all these Case Laws in less time. Therefore, We are providing a complete summary of all the Direct Tax Case Laws applicable for CA Final May 2017 Exams here.

These Case Laws were divided chapter wise for easy revision. Profits from Business of Professions has the highest concentration of the case laws. These case laws will be asked in the exam for 16-20 marks for the CA Final Direct Tax paper.

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DT Selected Case Law Summary

  • What is the nature of liquidated damages received by a company from the supplier of plant for failure to supply machinery to the company within the stipulated time- a capital receipt or a revenue receipt?Ans: Capital Receipt
  • Can capital contribution of the individual partners credited to their accounts in the books of the firm be taxed as cash credit in the hands of the firm, where the partners have admitted their capital contribution but failed to explain satisfactorily the source of receipt in their individual hands?Ans: No
  • Whether section 14A is applicable in respect of deductions, which are permissible and allowed under Chapter VI-A?Ans: No
  • Case where the application for registration of a charitable trust is not disposed of within the period of 6 months as required under section 12AA(2), can the trust be deemed to have been registered as per provisions of section 12AA?Would not amount to “deemed registration”
  • Where a charitable trust applied for issuance of registration under sec 12A within short time span ( Nine months, in this case) after its formation , Can registration be denied by the concerned authority on the ground that no charitable activity has been commenced by the trust ?No
  • In a case where properties bequeathed to a trust could not be transferred to it due to ongoing court litigation and pendency or probate proceedings, can violation of the provisions of section 11(5) be attracted?No
  • Is the approval of Civil Court mandatory for amendment of trust deed, even in a case where the settler has given power to the trustees to alter the trust deed?No
  • Can notional interest on security deposit given to the landlord in respect of residential premises taken on rent by the employer and provided to the employee,be included in the perquisite value of rent-free accommodation given to the employee?No
  • Can the limit of Rs. 1,000 per month per child be allowed as standard deduction, while computing the perquisite value of free or concessional education facility provided to the employee by the employer?Rs.1000, is Not a standard deduction
  • Whether the rental income derived from the unsold flats which are shown as stock-in-trade in the books of the assessee would be taxable under the head ‘Profits and gains from business or profession’ or under the head ‘Income from house property’, in a case where the actual rent receipts formed the basis of computation of income?“Income from house property”
  • Can the rental income from the unsold flats of a builder be treated as its business income merely because the assessee has, in its wealth tax return, claimed that the unsold flats were stock-in-trade of its business?“Income from house property”
  • Under which head of income is franchise fee received by an assessee in tourism business, against special rights given to franchisees to undertake hotel business in asessee’s property, taxable?Business Income (Reason : Special conditions stipulated in the contract)
  • Would the provisions of deemed dividend under section 2(22)(e) be attracted in respect of financial transactions entered into in the normal course of business?No
  • Can winnings of prize money on unsold lottery tickets held by the distributor of lottery tickets be assessed as business income and be subject to normal rates of tax instead of the rates prescribed under section 115BB?No, Rate u/s:115BB is applicable i.e 30%
  • Can the loss suffered by an erstwhile partnership firm, which was dissolved, be carried forward for set-off by the individual partner who took over the business of the firm as a sole proprietor, considering the succession as a succession by inheritance?No, since it is not a case of succession by inheritance.
  • Can unabsorbed depreciation of a business of an industrial undertaking eligible for deduction under section 80-IA be set off against income of another non-eligible business of the assessee?Yes
Best Recommended CA Final Group 1 Best Books
Direct Tax Summary Notes

Financial Reporting and Accounting standard Best Books

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Subject Title

Author Names

Accounting Standards (Vol 1 And 2) 8th Ed

Rajesh Makkar

Ca Final Accounting Standards Made Easy

Ravi kanth miriyala

Financial Reporting (Ca Final)

B D Chatterjee

Beginner’s Guide To Ind As & Ifrs

Ca. kamal garg

Illustrated Manual On Ind As & Ifrs (Set Of 2 Volumes)

Ca. kamal garg

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Strategic Financial Management (SFM) Best Books

Direct Tax Summary Notes

Subject Title

Author Names

Strategic Financial Management (Ca Final)

Rajesh Makkar

Strategic Financial Management (Ca Final)

J B Gupta

 Snow White Strategic Financial Management For Ca Final

V pattabhi ram and s d bala 

 Strategic Financial Management

Ravi m. kishore 

 Shroff Publishers Strategic Financial Management For Ca Final

A n sridhar 

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Corporate And Allied Laws Best Books 

Direct Tax Summary Notes

Subject Title

Author Names

Ca Final Corporate And Allied Laws

Krishnan AKS

Ca Final Corporate & Allied Laws

Tejpal Sheth

Handbook On Corporate & Allied Laws

Kamal Garg

Bestword Corporate And Allied Laws Ca Final

Munish bhandari

Ca Final Combo ( Company Law And Allied Law) For May 2017 Exam

Ca cs ashish gupta

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Audit  Best Books

Direct Tax Summary Notes

Subject Title

Author Names

Ca Final Professional Approach To Advanced Auditing (In 2 Modules)

Pankaj Garg

Notes On Auditing & Assurance An Easy Approach

Kamal Garg

Taxmann Ca Final Advanced Auditing And Professional Ethics

Tapan Jindal

Ca Final Advanced Auditing And Professional Ethics

Ca vinod kumar agarwal and ca aarti n lahoti

Cch Students Referencer On Standard On Auditing

G sekar & b saravana prasath

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Best Recommended CA Final Group 2 Best Books

Direct Tax Summary Notes

Advance Management Accounting Best Books

Subject Title

Author Names

Ca Final Advanced Management Accounting (Vol 1 3): Cost Management/Operations Research/Theory

Rajesh Makkar

Ca Final Advanced Management Accounting(Set Of 2 Books)

Amresh jain

Problems & Solutions On Advance Management Accounting For Ca Final

Ca K Hariharan

Advanced Management Accounting Ca  Final

M. Ravi Kishore

Taxmann Ca Final Advanced Management Accounting Operations Research

J B Gupta

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CA Final ISCA Best Books

Preparing for CA Final? - Must read below
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Direct Tax Summary Notes

Subject Title

Author Names

 Ca Final Isca Book (Printed) By Ca Kunal Agarwal

Kunal Agarwal 

 Bharat Information Systems Control And Audit (Isca)

 Manoj Agarwal

 Ca Final Information Systems Control & Audit By Dinesh Madan For Ca Final May 2017 Exams & Onwards

 Dinesh madan

If you want more CA Final FR &  AS and other best books click here and buy latest books 

Direct Taxation Best Books

Direct Tax Summary Notes

Subject Title

Author Names

 Bharat Professional Approach To Direct Taxes Law And Practice By Girish Ahuja, Ravi Gupta For Ca/Cs/Cma Set Of (2 Volumes)

 Girish Ahuja and Ravi Gupta

 Direct Taxes Law & Practice (Hardbound)

 Vinod K Singania

 Handbook To Direct Taxes

 Bomi F Daruwala

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Indirect Taxation Best Books  

Direct Tax Summary Notes

Subject Title

Author Names

 Indirect Taxes Law And Practice (Ca/Cs/Cma)

V S Datey 

Indirect Tax Laws Agarwal And Gour 9 Ed Ca Final For May 2017

Agarwal and Gour 

 Ca Final Indirect Taxes Combo ( Module 1: Service Tax; Module 2: Central Excise, Customs, Ftp & Comprehensive Issues)

Mohd Rafi 

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CA Final Solved Scanners

Direct Tax Summary Notes

CA Final Solved Scanner Link  Author Edition
Solved Scanner CA Final Group I Paper -1 Financial Reporting Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group I Paper-2 Strategic Financial Management Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group – I Paper-3 Advanced Auditing & Professional Ethics Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group I Paper -4 Corporate and Allied Laws Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group II Paper -5 Advanced Management Accounting Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group II Paper-6 Information Systems Control and Audit Dr. Arpita Ghose And Gourab Ghose Jan-17
Solved Scanner CA Final Group II Paper -7 Direct Tax Laws Prof. Arun Kumar And Ca. Rupesh Agrawal Jan-17
Solved Scanner CA Final Group II Paper-8 Indirect Tax Laws Prof. Arun Kumar And Cs. Ca Rajiv Singh Jan-17

CA Final Best Video Lectures Classes

Preparing for CA Final? - Must read below
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better. Watch demo videos below -

Subject Title

Authors Names

CA Final Group 1 Financial Reporting and AS

Amresh Jain

CA Final – Financial Reporting & Accounting Standard

M K Jain

CA Final Group 1 – Strategic Financial Management – SFM (English)

Badri Narayanan

CA Final Strategic Financial management

Amresh jain

CA Final Corporate and Allied Law

CA Assem Trivedi

CA Final Corporate and Allied Law

CA Krishnan AKS

CA Final Advanced Auditing & Professional Ethics

CA Aseem Trivedi

CA Final AMA (COSTING/QT/OR)

Satish Jalan

CA Final Group 2 Advanced management Accounting

Amresh jain

CA Final Group 2 – Information Systems Control & Audit

CA Kunal Agrawal

CA Final ISCA

Guru Gupta.

CA Final Group 2 – Direct Tax

Arpit Gupta

CA Final Direct Tax Laws

Arvind Tuli

CA Final Group 2 – Indirect Tax

Arpit Gupta

CA Final Indirect Tax

 Prof Vaidya

If you want other Best Lectures video click here and see all books for our website 

Download Direct Tax notes By Arun Tiwari

Direct Tax notes By Arun Tiwari

Click Here and Download Direct Tax Selected Case Law & Summary for May 2017

 Direct Tax Summary Notes – may 2017 Exam

At CAKART (https://www.cakart.in) you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

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