Long-term specified asset definition broadened to include notified bonds issued by designated infrastructure bodies meeting term and issue-date conditions. The amendment narrows eligible reinvestment instruments by defining long-term specified asset as bonds redeemable after a prescribed multi-year term and issued on or after a specified commencement date, only if issued by the National Highways Authority of India or the Rural Electrification Corporation Limited and notified by the Central Government for the purposes of the provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Long-term specified asset definition broadened to include notified bonds issued by designated infrastructure bodies meeting term and issue-date conditions.
The amendment narrows eligible reinvestment instruments by defining long-term specified asset as bonds redeemable after a prescribed multi-year term and issued on or after a specified commencement date, only if issued by the National Highways Authority of India or the Rural Electrification Corporation Limited and notified by the Central Government for the purposes of the provision.
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