Recent X‐ray observations of microquasars and Seyfert galaxies reveal broad emission lines in their spectra, which can arise in the innermost parts of accretion disks. Simulations indicate that at low inclination angle the line is measured by a distant observer as characteristic two‐peak profile. However, at high inclination angles (> 850) two additional peaks arise. This phenomenon was discovered by Matt et al. (1993) using the Schwarzschild black hole metric to analyze such effect. They assumed that the effect is applicable to a Kerr metric far beyond the range of parameters that they exploited. We check and confirm their hypothesis about such a structure of the spectral line shape for the Kerr metric case. We use no astrophysical assumptions about the physical structure of the emission region except the assumption that the region should be narrow enough. Positions and heights of these extra peaks drastically depend on both the radial coordinate of the emitting region (annuli) and the inclination angle. It was found that these extra peaks arise due to gravitational lens effect in the strong gravitational field, namely they are formed by photons with some number of revolutions around black hole. This conclusion is based only on relativistic calculations without any assumption about physical parameters of the accretion disc like X‐ray surface emissivity etc. We discuss how analysis of the iron spectral line shapes could give an information about an upper limit of magnetic field near black hole horizon. © 2004 American Institute of Physics