capital gain to Gift transfer ?

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