Long-term specified securities designation permits capital gains reinvestment relief but triggers recapture if disposed within three years. The Central Board designates equity shares to be issued by M/s Information Technology Park Ltd. as long-term specified securities under section 54EA, provided the investment is made out of net consideration from the transfer of a long-term capital asset in accordance with that section; if the assessee transfers or converts the allotted specified equity into money or otherwise disposes of it within three years from allotment, the initial investment shall be chargeable to tax under the head Capital Gains in accordance with section 54EA.