S.O. 632(E) — Equity shares to be issued within a period of one year from the date of publication of thi

What this is

S.O. 632(E) was published on 6 August 1999. Its subject is Equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette f specified under section 54E.

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 Act	Now
s.54E	no 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 equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette for amounts not exceeding rupees sixty six crores by Reliance Ports and Teriminals Limited, a public limited company registered under the Companies Act, 1956, and having its registered office at village Meghpar, Taluka Lalpar, District-Jamnagar, Gujarat-361 140, for the purposes of aforesaid sub-section

Provided that the investment in the aforesaid equity shares is to be made by an assessee out of net consideration arising out from transfer of long-term capital asset in accordance with the provisions of section 54EA of the Income-tax Act, 1961 :

Provided further that in case the assessee converts into money or transfers aforesaid equity shares allotted to him in any manner within a period of three years from the date of their allotment the initial investment made by such assessee in the aforesaid equity shares shall be chargeable to tax under the head "Capital gain" in accordance with the provision of sub-section (2) of section 54EA of the Income-tax Act, 1961.

[Notification No. 11024/F. No. 178/65/98-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.

Circular No. 791 — 442. Whether the date of transfer, as referred to in section 54E of the Act, is the date of conversion of the capital as 2 June 2000
Circular No. 560 — 441. Clarification regarding tax exemption under section 54E on sale of capital assets converted into stock-in-trade 18 May 1990
Notification No. 2469 — 3-year HUDCO Capital Gains Debentures " issued by the Housing & Urban Development Corporation Limited specified under se 15 July 1987
Notification No. 847 — 3--year Industrial Development Bank of India Capital Bonds issued by the Industrial Development Bank of India specified 13 April 1987
Notification No. 804E — Special series of units issued under the Capital Gains Unit Scheme specified under section 54E 27 October 1983
Notification No. 504E — National Rural Development Bonds (Second Issue) specified under clause (b) of rule 4 of the Public Debt Rules notified u 21 June 1983

← Notification No. 11024 · Notification No. 11022 →

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.