Gain on Capital asset tranferred as Gift or Will is liable to Capital gain tax?

Books say,As per sec 47 some tranfers as Gift not attract tax...    As per sec.49(1) some tranfers as Gift do attract tax....

Please tell me ,the circumstances at which it will be or not be taxed?

hi karthi

sec 47 says that if a property is transfer under a partition of huf then it  will not be taxable at that time. but when the person to whom property is transferred sold the same asset then it will be taxable in his own hands but mind u COA from the date of in which it was first held by the same assessee will be taken as proportionately to the year in which such asset is sold