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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Adani Infrastructure Services Ltd. Equity Shares Designated as Long-Term Securities u/s 54EA, Must Hold for 3 Years.</h1> The Central Board of Direct Taxes has designated certain shares and equity shares as long-term specified securities under Section 54EA of the Income-tax Act, 1961. Specifically, equity shares issued by Adani Infrastructure Services Ltd., a public company, are included, with a total issuance not exceeding Rs. 120 crores. These shares must be held for at least three years post-allotment and are to be purchased using net consideration from the transfer of long-term capital assets. If these shares are transferred or converted into money within three years of allotment, the initial investment will be taxed as capital gains.
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