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Exemption u/s 54EC

This query is : Resolved 
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(Querist)
11 March 2009 Sirs
I need to invest my income from short term capital gains in a long term specified asset as under section 54 EC.

Though the section specifies that only capital gain from long term assets can be invested in these specified assets, i need to know Whether there is any provision or case law that will enable me to claim exemption u/s 54 EC for investing short term capital gains.

( I ask this under the assumption that ultimately the gain is transferred to the government through the specified assets mentioned by it )
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 March 2009 Mr.M.Krishnakumar,one of our learned club member ,has answered the query to which I also agree.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
12 March 2009 Plz provide the link of that query.
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