Assessee-company received substantial amount as share premium on issue of equity shares. Assessee  submitted valuation report issued by a CA using DCF method of valuation. The Assessing Officer rejected said valuation report and made addition under section 56(2)(viib). On apepeal the  Tribunal held that valuation report was rejected based on objective satisfaction and not based on detailed examination and valuation done by assessee could not be rejected without recording any finding to contrary by lower authorities. On appeal the Court held that  since Tribunal had construed subject provision keeping in view fair market value of shares in question and not premium amount and fair market value had been arrived at by assessee by adopting one of statutorily designated methods in terms of rule 11UA(2). Order of Tribunal affirmed.(AY. 2013-14)