For the purpose of Section 54EC of ITA 1961 Central Govt. notifies the bonds for an amount of Rupees three thousand five hundred crores

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..... dated 22-12-2006 In exercise of the powers conferred by sub-clause ( ii ) of clause ( b ) of the Explanation to section 54EC of the Income-tax Act,1961 (43 of 1961), the Central Government hereby notifies the bonds for an amount of Rupees three thousand five hundred crores (redeemable after three years) to be issued by the Rural Electrification Corporation Limited, a company formed and reg .....

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..... ered by clause ( i ), shall not be allotted the bonds notified as long-term specified asset' by this notification, for any amount which exceeds the amount of fifty lakhs rupees as reduced by the aggregate of the investment, if any, made by him in the bonds notified as long-term specified asset' by the Central Government for the purposes of section 54EC of the Income-tax Act 1961 (43 of 196 .....

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