Consultant
91 Points
Joined August 2008
Well my dear friends, agreed the paper looked easy and most of the questions were from amendments and case laws. But at the same time, there was tremendous scope for silly mistakes and lack of proper application of our knowledge. Especially in questions like computation of net wealth, Rs.60,000 cash to fisherman (Rule 6DD). Most of them might have just written anything more than 20,000 or 35,000 as the case may be, shall be disallowed. But its not so. There is some specific provison when it comes to fisherman. Rs.15 lakhs warehousing income.....plenty of tricky situations.
If the corrections are like last time, the marks will still be in the range of 30 to 45. Even last times paper we felt we did pretty well. But in the end the result was totally distorted.
I really would not wanna raise my hopes big time, coz the paper seemed easy. We are ultimately at the mercy of the ICAI and valuer.