Long-term specified securities under section 54EB allow reinvestment in specified bonds but trigger capital gains tax on early redemption. Specification designates bonds issued by Infrastructure Leasing and Financial Services Limited as long-term specified securities under section 54EB, subject to issuance within a one-year window and investment from net consideration of a long-term capital asset; if the assessee monetises the allotted bonds within a fixed retention period after allotment, the initial investment is chargeable to tax under the head Capital gains in accordance with the section.