Assessee company issued equity shares at premium of certain amount to shareholders of amalgamating company in pursuance of approved amalgamation scheme.  It filed its return of income declaring certain loss which was scrutinized and an assessment order was passed under section 143(3). The AO reopened the assessment  on the  ground that assessee had issued equity shares at premium of amount which was more than fair market value and, thus, it had resulted in under assessment of income in hands of assessee. On appeal the CIT(A) held that the  issue of share premium was duly examined by Assessing Officer in original scrutiny assessment proceedings and formed his opinion about non-applicability of provision of section 56(2)(viib). Further, Assessing Officer did not have any fresh tangible material to form opinion that there was any escapement of income-Also, Assessing Officer failed to establish that assessee did not disclose all material facts during original assessment. The reassessment order was quashed. On appeal the Tribunal affirmed the order of the CIT(A) (AY. 2015-16)