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Notification: S.O. 8(E)
Section(s) Referred: 54EB ,54EB(1)
Statute: INCOME TAX
Date of Issue: 5/1/1998
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, as long term specified assets, for the purpose of the said section, namely:—
Shares to be issued by Tata Petrodyne Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at Jeevan Bharti, Tower No. 1, 10th Floor, 124, Connaught Circus, New Delhi-110 001, within one year from the date of publication of this notification, of an amount not exceeding Rs. 70 crores which are not transferable before seven years after its allotment.
[Notification No. 10497/F. No. 178/37/97-ITA-I
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