Allotment of prorated additional shares to existing shareholders is out of ambit of sec. 56(2)(vii),

IT : Where additional shares of a company were allotted pro rata to shareholders including assessee based on their existing shareholding, there was no scope for any property being received on said allotment of shares and, consequently, provisions of section 56(2)(vii)(c) did not apply to difference in book value and face value of additional shares