Capital gains on transfer of foreign exchange assets not to be charged in certain cases

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..... rm capital gains arise from the transfer of a foreign exchange asset (the asset so transferred being hereafter in this section referred to as the original asset), and the assessee has, within a period of six months after the date of such transfer, invested 1 [ *** ] the whole or any part of the net consideration in any specified asset 2 [ *** ] , or in any savings certificates referred to in .....

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..... f this sub-section,- ( i ) cost , in relation to any new asset, being a deposit 4 [ *** ] referred to in sub-clause ( iii ), or specified under sub-clause ( v ), of clause ( f ) of section 115C, means the amount of such deposit; ( ii ) net consideration , in relation to the transfer of the original asset, means the full value of the consideration received or accruing as a result of the .....

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..... ---- Notes :- 1. or deposited omitted by the Finance Act, 1988, w.e.f. 1-4-1989. 2. or in an account referred to in clause (4A) omitted by the Finance Act, 1988, w.e.f. 1-4-1989. 3. or such deposit in the account aforesaid omitted by the Finance Act, 1988, w.e.f. 1-4-1989. 4. referred to in clause (4A) of section 10 or omitted by the Finance Act, 1988, w.e.f. 1-4 .....

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