Capital gains not to be charged on investment in certain bonds.

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..... ed whole or part of the capital gains in a long-term specified asset (new asset), then, the capital gains shall be dealt with as follows:- (i) if the capital gains exceed the investment in the new asset, the amount of capital gains as exceeds such investment shall be charged under section 67; or (ii) if the capital gains is equal to or less than the investment in the new asset, the whole of s .....

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..... set on the date of such loan or advance. (5) Where the investment in the new asset has been taken into account for sub-section (1), no deduction under section 123 for any tax year shall be allowed for such investment. (6) In this section, "new asset" means any bond, redeemable after five years and as notified by the Central Government for the purposes of this section with such conditions (includ .....

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