Approval change for share premium treatment: CBDT approval now governs exemption of consideration received over face value for share issues. The amendment substitutes the notification wording to provide that consideration received by a company from an investor for issue of shares that exceeds face value is conditioned on approval by the Central Board of Direct Taxes under the referenced notification as modified, replacing prior reference to approval by the Inter Ministerial Board of Certification; the amendment operates retrospectively and is accompanied by an explanatory memorandum that no person shall be adversely affected.