During year, assessee sold shares to a foreign company, namely, MSRL at rate of Rs. 380.53 per share . The  AO  held that  share premium in excess of value of shares as determined under rule 11UA and, accordingly, he treated share premium as income of assessee as per provision of S. 56(2)(viib) of the Act . On appeal the Tribunal held that  those very shares were sold in next financial year at much higher amount after proper due diligence to a non-resident buyer  . Accordingly the addition was deleted .  (AY. 2014 -15)