When the assessee has been allotted certain shares as consideration for property transfer, then the question of value of those shares by invoking Section 56(2)(vii)(c) of the Act, does not arise. When a value is fixed for a share allotted, it reflects the market value of the asset transferred. It is not the case of the Assessing Officer that the assessee has not valued the assets while transferring the same to the company. What is to be considered is that this exchange/barter is on a particular date. When the exchange was on 27/03/2012 and when the shares were allotted on 27/03/2012, the Assessing Officer seeks to value the already allotted shares on 31/03/2012 i.e., after allotment of 40,000 equity shares at a premium of Rs.400/- per share which gave the company premium of Rs.1,56,00,000/-. This is not permissible. Such method of computation is not laid down under any provision of the Act. Thus, the same is not in accordance with law.