Assessee-company, pursuant to a search, faced post-search assessments for relevant assessment years. Assessing Officer made additions under section 56(2)(viib) on the ground that the assessee received excess share premium; the Commissioner (Appeals) confirmed the additions. It was noted that the Assessing Officer invoked section 56(2)(viib) without recording any specific defect or dissatisfaction with the assessee’s valuation, and without demonstrating application of prescribed methods under Rules 11U and 11UA. Since the Assessing Officer had not found any specific fault in rejecting or not being satisfied with the valuation made by the assessee, addition under section 56(2)(viib) was not justified. (AY. 2013-14 to 2015-16)