Insertion of New Section 54A

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..... company which is not an Indian company, a capital gain arises from the transfer of a capital asset, being shares in an Indian company, and the assessee has, within a period of two years from the date of such transfer, re invested the full value of the consideration or any part thereof received or accruing as a result of such transfer in an investment approved by the Central Government in this beha .....

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..... ollowing manner, namely : (a) if the approved investment is made by the assessee within the period of two years aforesaid and before the completion of the assessment in respect of the year in which the income arising from such transfer is chargeable to tax, the amount of the credit shall, on the assessee making a claim in this behalf in the prescribed form and in the prescribed manner, be adjusted .....

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