https://www.taxtmi.com/caselaws?id=463982 Share application money was routed through group companies on the same day, shown as invested share capital on behalf of foreign entities and received on a rotational basis, leading to tax treatment by applying a 0.5% commission on turnover. The court noted that the assessee had been asked to produce books of account, bills, vouchers and bank statements, but the assessment order did not deal with that requisition. As the maintenance of proper books of account remained unverified, the matter was remitted to the Assessing Officer to examine the books and record a finding. The court also observed that no question of law arose on the concurrent factual findings. en-us Fri, 09 Feb 2018 00:00:00 +0530 Thu, 25 Sep 2025 13:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463982 Share application money was routed through group companies on the same day, shown as invested share capital on behalf of foreign entities and received on a rotational basis, leading to tax treatment by applying a 0.5% commission on turnover. The court noted that the assessee had been asked to produce books of account, bills, vouchers and bank statements, but the assessment order did not deal with that requisition. As the maintenance of proper books of account remained unverified, the matter was remitted to the Assessing Officer to examine the books and record a finding. The court also observed that no question of law arose on the concurrent factual findings. Case-Laws Income Tax Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463982