Assessee issued shares of face value of Rs. 10 at a very high premium of Rs. 190 per share. Assessing Officer had no doubt about genuineness of source of funds of share applicant and he accepted identity and creditworthiness of share applicants, still he had drawn adverse inference merely on ground that assessee company’s performance did not justify high value of share premium. CIT(A) deleted the addition. On appeal by the revenue the Tribunal held that addition as undisclosed income is held to be not justified. Tribunal also held that provisions of section 56(2)(viib) inserted by Finance Act, 2012 with effect from 1-4-2013 to examine justification of share premium would apply prospectively from assessment year 2013-14. (AY. 2012-13)