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Capital gain

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(Querist)
29 December 2012 what is the fourth proviso to section 48 in capital gain tax...??????
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
29 December 2012 FORTH PROVISO TO SECTION 48-


Provided also that where shares, debentures or warrants referred to in the proviso to clause (iii) of section 47 are transferred under a gift or an irrevocable trust, the market value on the date of such transfer shall be deemed to be the full value of consideration received or accruing as a result of transfer for the purposes of this section
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