section 56(2)(viib)

is this applicable on "receipt of consideration for issue of share" i.e share application or on " allotment of shares"
what if the share application and that too * nonrefundable*, firm allotment with share premium already determined is received in earlier years in 2010, before the introduction of the section.
PL consider the objective of introduction if the section to curb black money.
Tushar