Held that the assessee has filed valuation report to substantiate fair market value of shares as on the date of issue and such valuation report is based on assets of the company, assessee has satisfied conditions prescribed under Explanation (a)(ii) to section 56(2)(viib) and in such situation, there is no scope for the Assessing Officer to invoke provisions of section 56(2)(viib) to tax share premium collected on issue of shares. The Commissioner (Appeals) without appreciating these facts has simply confirmed additions made by Assessing Officer. Hence, the Assessing Officer is directed to delete additions made towards share premium on issue of shares under section 56(2)(viib).  Addition was held to be not justified.  (AY. 2013-14)