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Notification: S.O. 910(E)
Section(s) Referred: 54EB ,54EB(1)
Statute: INCOME TAX
Date of Issue: 26/12/1997
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares and debentures as specified securities for the purpose of the said section, namely:—
(i) shares to be issued by Shapoorji Pallonji Infrastructure Capital Company Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at 70, Nagindas Master Road, Fort, Bombay-400 023, of an amount not exceeding Rs. 150 crores, which are not transferable before three years from the date of its allotment: Provided that shares are issued and allotted to the assessee within one year from the date of the issue of this notification; and
(ii) debentures to be issued by Shapoorji Pallonji Infrastructure Capital Company Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at 70, Nagindas Master Road, Fort, Bombay-400 023, of an amount not exceeding Rs. 300 crores, which are not transferable or convertible before three years from the date of its allotment: Provided that debentures are issued and allotted to the assessee within one year from the date of the issue of this notification
[Notification No. 10480/F. No. 178/69/97-ITA-I
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