REC Zero Coupon Bond Notified! What is the Taxation Rule of Redemption or Sale of The Bond?

CBDT has notified on 8/4/2010 the Zero coupon Bond to be issued by Regional Electric corporation in coming months as bond for the pupose of section 2(48) of the I T Act which defines what is Zero Coupon Bond. The summary of the issues as per notification is as under

(a) period of