Anyone has experience resetting cost basis during RNOR period in India?

A lot of people on the internet are suggesting that you can sell your shares after you become a non-resident in US and buy them back during RNOR period and you don't have to pay tax on the profit.

But has anyone actually done it? Did you manage to reset your cost basis?

Did you get any IT demand notice or anything like that?

I recently learnt that even if you do it in 2 or 3 transactions and the money involved in the transaction is huge, IT department could classify as business income and demand that you pay tax on it in India according to your slab rate.