Section(s) Referred: 54EB ,54EB(1)
Statute: INCOME TAX
Date of Issue: 13/7/1998
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 equity shares as long term specified securities, for the purpose of said section,namely:-
Shares to be issued by Energy Development Co.Ltd.,Bangalore,a public company registered under the Indian Companies Act,1956 and having its registered office at 21D,Ist Cross, Ist Floor,Jayalakshmi Puram,Mysore,within one year from the date of publication of this notification, of an amount not exceeding rupees one crore sixty lakhs only which are not transferable before seven years after their allotment.