Central Board of Direct Taxes specifies the various assets, referred to as the long-term specified assets u/s 54EA(1) - S.O.252(E) - Income Tax Act, 1961
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Long-term specified assets designation lists qualifying bonds and equity shares and corrects prior notification wording. Specification designates certain instruments as long-term specified assets: bonds of the Madhya Pradesh Electricity Board redeemable only after seven years, and equity shares issued by DMCC Oil Terminals (Navlakhi) Ltd held for at least seven years to qualify. The notification also amends a prior notification to correct the corporate name of DMCC Oil Terminals (Navlakhi) Ltd.
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 assets designation lists qualifying bonds and equity shares and corrects prior notification wording.
Specification designates certain instruments as long-term specified assets: bonds of the Madhya Pradesh Electricity Board redeemable only after seven years, and equity shares issued by DMCC Oil Terminals (Navlakhi) Ltd held for at least seven years to qualify. The notification also amends a prior notification to correct the corporate name of DMCC Oil Terminals (Navlakhi) Ltd.
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