The Tribunal noted that the AO had conducted specific enquiries relating to receipt of share premium, the basis for the fair market value and the applicability of provisions of section 56(2)(viib). Further, the assessee furnished valuation of a subsidiary company also supported by the valuation certificate issued by a chartered accountant on the basis which the fair market value was determined. Accordingly, it was held that the assessee had duly justified the fair market value before the AO and therefore, the order passed was neither erroneous nor prejudicial to the interests of the Revenue. Therefore, the revision order under section 263 of the Act was quashed.(AY. 2015-16)