Investment from Capital gains under section 54EA: specified securities eligible if retained beyond the seven-year period. Specification under section 54EA designates fully convertible debentures and bonds to be issued by Koshika Telecom Ltd as eligible reinvestment securities for long-term capital gains; issuance is limited to one year from publication and to specified aggregate amounts. Investment must be made out of income chargeable as Capital gains, and if the debentures, bonds or shares on conversion are converted into money or transferred within seven years of allotment, the initial investment is chargeable to tax as Capital gain under subsection (2) of section 54EA.