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Case law › Notifications › 1999 › Notification No. 11152
Notification 30 November 1999

Notification No. 11152

Following shares and debentures as long-term specified securities specified under section 54EA

What this is

Notification No. 11152 was published on 30 November 1999. Its subject is Following shares and debentures as long-term specified securities specified under section 54EA.

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.
Under the 1961 ActNow
s.54EAno counterpart recorded

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

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 long-term specified securities, for the purposes of said section, namely :

(a) shares to be issued by Reliance Patalganga Power Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office at Shree Ram Mills Premises, 3rd Floor, Ganpat Rao Kadam Marg, Worli, Mumbai, within one year from the date of publication of this notification, of an amount not exceeding rupees 462.39 crores which are not transferable before three years after their allotment; and

(b) debentures to be issued by M/s Reliance Patalganga Power Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office at Shree Ram Mills Premises, 3rd Floor, Ganpat Rao Kadam Marg, Worli, Mumbai within one year from the date of publication of this notification of an amount not exceeding rupees 4078.91 crore which are not transferable as convertible before three years after their allotment :

Provided that the investment in the aforesaid shares and debentures specified in this notification is made by an assessee out of net consideration arising from transfer of long-term capital asset in accordance with the provisions of the said section :

Provided further that in case the assessee transfers or converts (otherwise than by transfer) into money the aforesaid shares and debentures specified in this notification allotted him in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in such shares and debentures shall be chargeable to tax under the head "Capital Gains" in accordance with the provisions of the said section.

[F. No. 178/56/99-ITA-I]

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

← Notification No. 11153  ·  Notification No. 11151 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.