In response to queries raised during assessment proceedings, assessee had provided working of fair value of equity shares as per rule 11UA, details of large share premium received during year, name, address and PAN of persons who had applied for shares along with copy of share application and copy of bank statement reflecting such payments, creditworthiness and identity of investors and genuineness of investment in share capital and details of expenses incurred for increase in share capital. The AO issued notice for reopening of assessment  on the ground that the assessee had  issued shares at excess premium which was required to be added under section 56(2)(viib)of the Act. On writ allowing the petition the Court held that   the  very issue of share premium was a subject matter of consideration by Assessing Officer during original assessment proceedings hence the notice for reassessment is not valid.  (AY 2014-15)