what are tax benefit available for transfer of shares from one company to another company

Section 2(1B) of the Income Tax Act, 1961 defines the term "Amalgamation". Basically such defination specify certain conditions. 

Section 47(vi) provides that the transaction of amalgamation as defined under section 2(1B) will not be treated as transfer for the purpose of charge of capital gain tax. 

Section 47(vii) provides benefit to the shareholder of transferor company i.e. amalgamating company.

Therefore, i can conclude that the if your transfer of assets and liability of the company to other company satisfy the conditions of section2(1B), then only the your transfer will not be taxable. 

Transfer of share by the shareholder will also get the benfit of section 47(vii).

For any kind of further clarity refer the sections mentioned above.