Notification: S. O. 585(E)
Section(s) Referred: s. 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 Messrs. Energy Development Company Ltd., Bangalore, a public company registered under the Indian Companies Act, 1956, and having its registered office at 21-D, 1st Cross, 1st 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.
(Sd.) Samar Bhadra, Under Secretary to the Government of India. [Notification No. 10645/F. No. 178/125/97-ITA-I]