Dear Sriram,
You are right. R3 4.7 is not supported.
But please have a look to this note:
1476239 - SAP system migration to Windows 2008/2008 R2
To this chapter:
"Before you upgrade your SAP system on Windows, you have to check whether your system is released for productive use on Windows Server 2008 or Windows Server 2008 in the SAP Product Availability Matrix (PAM) at: http://service.sap.com/pam.
If your system is not released in the PAM, you may only install and run this combination productively for a limited time (4 - 8 weeks) that you need to upgrade your SAP system to a SAP system version that supports this combination."
The R/3 4.7 system will run on Win 2008 R2 only during the upgrade.
According to this note, there is no constraint.
Do you agree?
Thank you for your help,
Zobair