Tribunal held that share allotment date and not share application, is relevant date to trigger provisions of section 56(2)(viib) as after a subscriber entity advances amount for allotment of shares, subscriber entity has every right to withdraw or cancel its request for allotment Therefore, where assessee received money for allotment of shares in assessment year 2011-12 and shares were allotted in assessment year 2015-16, provisions of section 56(2)(viib) had to be invoked when assessee allotted shares on finalization of share allotment. Tribunal also held that  Rule 11UA(2) prescribes two methods-Book Value method and DCF method for valuation and lays down that option to choose method to be adopted to determine FMV of unquoted shares is not with Assessing Officer but with assessee. However, Assessing Officer can refuse method of valuation after proving that methodology resorted by assessee is incorrect or not as per standards laid down.(AY. 2015-16)