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of <h1>Section 70: Lists transfers excluded from 'transfer' for capital gains, covering gifts, reorganisations, conversions, and specified exemptions</h1> Section 70 excludes specified transfers from being treated as 'transfer' for capital gains purposes, listing numerous exempt situations: distribution on HUF partition; transfers under will, gift or irrevocable trust; inter-company transfers between wholly owned parent and subsidiary and specified amalgamation/demerger and business-reorganisation exchanges (including cross-border conditions); transfers by banks/co-operative banks under sanctioned schemes; certain non-resident-to-non-resident transfers of bonds, GDRs, rupee bonds, derivatives and securities on IFSC exchanges; relocations of funds to resultant funds; succession-related transfers from firms, sole proprietorships or conversions to LLPs subject to conditions; conversions of debt to equity, gold/EGR conversions, transfers to public institutions for works of art; and various mutual fund consolidations and other specified transfers, with defined terms provided.
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