Capital asset transfer in amalgamation not treated as transfer when to Indian amalgamated company, preserving cost basis and holding period. Section 47(vi) excludes from transfer a capital asset moved by the amalgamating company to the amalgamated company under a scheme of amalgamation, provided the amalgamated company is Indian. The transferee takes the asset at the cost of the previous owner and also inherits the previous owner's period of holding; the exclusion applies only where the asset transfer occurs in the scheme and the amalgamated entity is an Indian company.