Capital gains reinvestment exemption: specified equity and bonds qualify when invested from long term capital gains, with clawback on early transfer. The notification permits exemption from capital gains where an assessee reinvests long term capital gains in specified equity and bonds issued by Reliance Power Ltd. within one year of the notification, provided the investment is made out of income chargeable as long term capital gains; if the allotted securities are transferred within three years of allotment, the initial investment is chargeable to tax under the statutory recapture provisions.
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.
Capital gains reinvestment exemption: specified equity and bonds qualify when invested from long term capital gains, with clawback on early transfer.
The notification permits exemption from capital gains where an assessee reinvests long term capital gains in specified equity and bonds issued by Reliance Power Ltd. within one year of the notification, provided the investment is made out of income chargeable as long term capital gains; if the allotted securities are transferred within three years of allotment, the initial investment is chargeable to tax under the statutory recapture provisions.
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