Central Board of Direct Taxes specifies equity shares to be issued by M/s Reliance Ports and Terminals Limited U/S 54EA - S. O. 632(E) - Income Tax Act, 1961
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Section 54EA investment in specified equity shares preserves capital gains exemption unless shares are transferred within three years. Notification prescribes specified equity shares to be issued within one year and within the stated aggregate amount; investment must be made out of the net consideration from transfer of a long term capital asset; if the assessee converts into money or transfers the allotted shares within three years, the initial investment shall be chargeable to tax as capital gain.
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.
Section 54EA investment in specified equity shares preserves capital gains exemption unless shares are transferred within three years.
Notification prescribes specified equity shares to be issued within one year and within the stated aggregate amount; investment must be made out of the net consideration from transfer of a long term capital asset; if the assessee converts into money or transfers the allotted shares within three years, the initial investment shall be chargeable to tax as capital gain.
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