Capital gains not to be charged on investment in certain bonds.

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.... transfer, invested whole or part of the capital gains in a long-term specified asset (new asset), then, the capital gains shall be dealt with as follows:- (i) if the capital gains exceed the investment in the new asset, the amount of capital gains as exceeds such investment shall be charged under section 67; or (ii) if the capital 1[gains are] equal to or less than the investment in the new ....

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....e converted the new asset into money on the date of such loan or advance. (5) Where the investment in the new asset has been taken into account for sub-section (1), no deduction under section 123 for any tax year shall be allowed for such investment. (6) For the purposes of sub-section (1), "long-term specified asset" means any bond, redeemable after five years and issued on after the 1st April ....