Long term specified securities designated for reinvestment relief; issuance and a multi year lock in condition govern eligibility and transferability. Central Board of Direct Taxes designates shares to be issued by Tata Petrodyne Limited as long term specified securities under the relevant income tax provision, applicable to shares allotted within one year from the notification; such shares shall not be transferable before a three year lock in from allotment, and the specification limits the aggregate amount of shares issuable under the notification.
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 securities designated for reinvestment relief; issuance and a multi year lock in condition govern eligibility and transferability.
Central Board of Direct Taxes designates shares to be issued by Tata Petrodyne Limited as long term specified securities under the relevant income tax provision, applicable to shares allotted within one year from the notification; such shares shall not be transferable before a three year lock in from allotment, and the specification limits the aggregate amount of shares issuable under the notification.
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