S.O. 269(E) — Following equity shares as long-term specified securities specified under section 44EA

What this is

S.O. 269(E) was published on 23 March 2000. Its subject is Following equity shares as long-term specified securities specified under section 44EA.

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.44EA	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 44EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies the following equity shares as long-term specified securities for the purposes of the said section, namely:--

(a) equity shares to be issued within a period of one year from the date of publication of the notification in the official gazette, of an amount not exceeding Rs. 30 (thirty) crores by Kirloskar Power Supply Company Limited, Pune, having its registered office at Laxmanarao Kirloskar Road, Khadki, Pune-411 003:

Provided that the investment in the aforesaid equity shares specified in this notification is made by an assessee out of net consideration arising from transfer of long-term captial 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 equity, specified in this notification, 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 each equity shares shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of the said section.

[Notification No. 11281/F.No. 178/91/99-ITA-I]

← S.O. 270(E) · S.O. 268(E) →

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.