https://www.taxtmi.com/caselaws?id=245081 Section 56(2)(vii)(c) addresses the taxability of shares received for no consideration or below fair market value by an individual or HUF. Its application to proportionate allotments of additional shares is examined through the meaning of "property", which includes shares and securities, and the character of a shareholder's right to acquire shares. The analysis distinguishes an issue resembling a rights issue from a strict rights issue where renunciation rights are absent. It also treats the reduction in value of existing shareholdings as relevant when assessing whether the shareholder has received any additional property or taxable benefit from the allotment. en-us Wed, 12 Mar 2014 00:00:00 +0530 Wed, 11 Feb 2026 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245081 Section 56(2)(vii)(c) addresses the taxability of shares received for no consideration or below fair market value by an individual or HUF. Its application to proportionate allotments of additional shares is examined through the meaning of "property", which includes shares and securities, and the character of a shareholder's right to acquire shares. The analysis distinguishes an issue resembling a rights issue from a strict rights issue where renunciation rights are absent. It also treats the reduction in value of existing shareholdings as relevant when assessing whether the shareholder has received any additional property or taxable benefit from the allotment. Case-Laws Income Tax Wed, 12 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245081