Exemption from capital gains : Long-term capital assets for reinvestment specified u/s 54EA- Reliance Power Ltd.

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..... b-section (1) of section 54EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies : (a) equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 913 crores by the Reliance Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registere .....

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..... manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid equity and bonds shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 43EA of the Income-tax Act, 1961. (Sd.) Promila Bhardwaj, Deputy Secretary to the Government of India. [Notification No. 10 .....

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