Exemptions from gift-tax apply for regularised unauthorised colony property and tribunal-approved share transfers following reconstruction. Exemptions are prescribed from the gift-tax provision for: immovable property in unauthorised colonies regularised by government notification where possession or title is evidenced by specified documents and the recipient is a defined resident; unquoted shares received under a tribunal-approved resolution plan following suspension of a company's board and appointment of government-nominated directors after affording the tax authority an opportunity to be heard; and equity shares allotted by a reconstructed bank under the reconstruction scheme to designated investors or investor banks at the scheme price.