Investment approval under section 54A: specified government securities and qualifying public issue shares qualify for capital gains reinvestment relief. Approval under section 54A designates specified investments as qualifying reinvestments of capital gains: National Savings Certificates (First Issue), 12 Year National Defence Certificates, 10 Year Defence Deposit Certificates, subscriptions to government securities, and subscriptions to qualifying initial public issues of ordinary shares in companies engaged in power or specified manufacturing. The notification specifies authorised offices for purchase or subscription and sets conditions on share issues including initial issue status, prospectus delivery, prohibition of premium, restrictions on issuance for goodwill, and requirement that consideration for asset transfers be at book value.
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.
Investment approval under section 54A: specified government securities and qualifying public issue shares qualify for capital gains reinvestment relief.
Approval under section 54A designates specified investments as qualifying reinvestments of capital gains: National Savings Certificates (First Issue), 12 Year National Defence Certificates, 10 Year Defence Deposit Certificates, subscriptions to government securities, and subscriptions to qualifying initial public issues of ordinary shares in companies engaged in power or specified manufacturing. The notification specifies authorised offices for purchase or subscription and sets conditions on share issues including initial issue status, prospectus delivery, prohibition of premium, restrictions on issuance for goodwill, and requirement that consideration for asset transfers be at book value.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
