Gift of assets from mother to son

YES FRIEND YOUR MOTHER CAN GIFT U HER EQUITY SHARE WITHOUT ANY TAX IMPLICATION..........BECAUSE AS PER SEC 56(2)(VII), A GIFT IS RECIVED BY RELATIVE (MOTHER) CANT BE TAXED IN INCOME TAX....................AND (AT TIME OF SALE) IF ITS HOLDING PERIOD IS MORE THEN 1 YEAR THEN , IT SHOULD ALSO BE EXEMPTED FROM TAX, AS LONG TERM CAPITAL GAIN, 

As gift tax has been abolished and sec 56 does not cover the gift from the relatives. Hence there is no tax Implications on this transaction.

Agree with above.

As per sec 56(2) (vi) &(vii) any gift received from relative(include mother)in cash Or kind shall be exempt from any tax implication.Please refer the link below: