Tribunal held that  if the assessee could substantiate that the fair market value of its shares was higher than the valuation determined in accordance with the rules, the higher value should be considered for working out the income under section 56(2) of the Act. However, the satisfaction of the Assessing Officer was required for working out the fair market value of shares. This issue was remanded to the file of the Assessing Officer with a direction to the assessee to substantiate the fair market value of its shares by incorporating the market value of the listed equities owned by it. The Assessing Officer may examine the claim of the assessee on the merits of the case and then decide the fair market value of the shares of the assessee-company as on the date on which the new issue of shares had been allotted to the new allottees.(AY. 2013-14)