Exemption from capital gains : Long-term capital assets for reinvestment specified - Reliance Telecom Ltd

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..... 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. 1,524.3 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office .....

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..... m in any 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 debentures shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961. (Sd.) Promila Bhardwaj, Deputy Secretary to the Government of India. [Notifi .....

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