Central Board of Direct Taxes specifies the following equity shares as long-term specified securities by M/s ASC Enterprises Limited u/s 54EA

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..... 164 DATED 9-12-1999 In exercise of the powers conferred by sub-section (1) of section 54EA (hereinafter referred to the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following equity shares as long-term specified securities for the purposes of the said section. Equity shares to be issued within a period of one year and equit .....

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..... an by transfer) the aforesaid equity shares and investment specified in the notification, allotted to him in any manner within a period of seven years from the date of their allotment, the initial investment made by such assessee in the aforesaid equity shares and investment shall be chargeable to tax under the head "Capital Gains" in accordance with the provisions of the said section. [F. No. .....

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