Central Board of Direct Taxes specifies fully convertible debentures and bonds issued by Koshika Telecom Ltd. u/s 54EA

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..... In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), and in supersession of the Notification S.O. 6(E), dated 5th January, 1998, published in the Gazette of India (Extraordinary) on the 5th January, 1998, the Central Board of Direct Taxes hereby specifies fully convertible debentures and bonds to be issued within a period of one year fr .....

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..... s allotted to him or the shares acquired on conversion, 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 fully convertible debentures or bonds shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961. [Notifi .....

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