Central Board of Direct Taxes specifies the following equity and debentures as a long term capital asset u/s 54EA

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..... onferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 the Central Board of Direct Taxes hereby specifies the following equity and debentures as a long term capital asset for the purposes of said sub-section, namely : ( 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 Rupees .....

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..... of net consideration arising from transfer of long-term capital asset in accordance with the provisions of the said sub-section: Provided further that in case the assessee transfers or converts with (otherwise than by transfer) into money the aforesaid equity and debentures specified in this notification to it in any manner within a period of three years from the date of the allotment, the ini .....

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