Conversion of specified bonds not a transfer - cost basis carries to shares or debentures while prior holding period is excluded. Section 47(xa) treats conversion of bonds referred to in Section 115AC(1)(a) into shares or debentures as not constituting a transfer for capital gains purposes; the cost of the shares or debentures to the transferee is the cost of the original bonds, and the period of holding of the previous owner is not to be considered when determining the transferee's period of holding.