1Notwithstanding anything contained in sections 54, 54B, 54D 2 *** 3 , 54EC and 54F, where the transfer of the original asset is by way of compulsory acquisition under any law and the amount of compensation awarded for such acquisition is not received by the assessee on the date of such transfer, the period for acquiring the new asset by the assessee referred to in those sections or, as the case may be, the period available to the assessee under those sections for depositing or investing the amount of capital gain in relation to such compensation as is not received on the date of the transfer, shall be reckoned from the date of receipt of such compensation:
Provided that where the compensation in respect of transfer of the original
asset by way of compulsory acquisition under any law is received before the 1st
day of April, 1991, the aforesaid period or periods, if expired, shall extend up
to the 31st day of December, 1991.
----------------------
1. Ins. by Act 49 of 1991, s. 21 (w.e.f. 1-10-1991).
2. The figures and letter ", 54E" omitted by Act 18 of 1992, s. 33 (w.e.f
1-4-1992).
3. Subs. by Act 14 of 2001, s. 33, for ", 54EA, 54EB" (w.e.f. 1-4-2001).
Section 54EB Capital gain on transfer of long-term capital assets not to be charged in certain cases
Section 54EC Capital gain not to be charged on investment in certain bonds
Section 54EE Capital gain not to be charged on investment in units of a specified fund
Section 54GB Capital gain on transfer of residential property not to be charged in certain cases