Unlock Advanced Research with PRISMAI Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions - Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ... Upgrade to Premium Document Options Get in PDF Print it! [Cites 0, Cited by 11] [Section 47] [Entire Act] Union of India - Subsection Section 47(xi) in The Income Tax Act, 1961 (xi)any transfer made on or before the 31st day of December, 1998 by a person (not being a company) of a capital asset being membership of a recognised stock exchange to a company in exchange of shares allotted by that company to the transferor.