Assessee-company issued shares at a premium of Rs. 140 per share for face value of Rs. 10 each share by following Discounted Cash Flow’ method (DCF)   . It received Rs. 2.8 crores as share premium. Assessing Officer applied ‘Book value’ method and computed value of shares of assessee at Rs. 2.36 and ‘nil’ on 1-4-2012 and 31-3-2013, respectively and taxed share premium. CIT (A) deleted the addition. Dismissing the appeal of the revenue, the Tribunal held that for immediately succeeding year viz., assessment year 2014-15 revenue itself had accepted DCF method of valuation of shares. Allowing the appeal of the assessee the Tribunal held that in absence of any distinguishing facts, revenue could not have whimsically declined to accept method of valuation of shares for year under consideration; and Assessing Officer was incorrect in adopting an inconsistent approach of valuation. Accordingly the CIT(A) is justified in deleting the addition. (AY. 2013-14)