Capital gain reinvestment: specified equity shares issuance enables exemption, subject to three-year holding rule and taxability if disposed. The Board specifies equity shares to be issued by Tata Teleservices Limited within one year, capped at three hundred crores, for purposes of enabling reinvestment of long term capital gains. Investment in these shares must be made out of income chargeable as Capital Gain arising on transfer of a long term capital asset. If the allotted shares are transferred within three years of allotment, the initial investment shall be chargeable to tax as Capital Gain in accordance with the provision governing reinvestment.