share application money for 2006-07 for Anant Media. This is relevant for the year 2007-08 since the limitation for reopening assessment will expire in March 2014.
* The genuineness of the share capital, with exorbitant premium shown to have been received by Anant Media in 2007-2013.
* The source of investment by Enlightened Consultancy Pvt Ltd, which the tax authorities have described as ďpurportedly a paper companyĒ, and others in the shares of Anant Media.
* The officers assessing those who transferred shares of Anant Media have been advised to initiate proceedings to bring to tax any capital gains arising from such transfer.
Officials said that following the initial scrutiny, notices were being sent to the company and shareholders to explain the transfer of shares and resale of shares at a high premium to companies and individuals, which purportedly exist only on paper.