Scope of provision : Where assessee had issued preference shares to director and ex-director of its company, since section 56(2)(viib) did not carve out any exception as regards applicability of same in a case where shares were issued to directors of a company and, therefore, AO was justified in invoking provisions of section 56(2)(viib) – Avinash Developers (P.) Ltd. v. Deputy/Assistant Commissioner of Income-tax, Circle-2(1) – [2024] 160 taxmann.com 256 (Raipur – Trib.)