Joint venture capital asset transfers by public sector companies may be excluded from transfer treatment in specified share exchanges. A transfer by a public sector company of a capital asset consisting of an interest in a joint venture, when exchanged for shares of a company incorporated outside India by a foreign government under the relevant foreign law, is not regarded as a transfer. The transferee's cost of acquisition remains the cost it incurred for the interest in the joint venture. 'Joint venture' means a business entity notified by the Central Government.