Solution

sale, exchange or relinquishment of the asset; As per Section 2(47) of Income Tax Act, 1961, unless the context otherwise requires, the term “Transfer” in relation to a capital asset, includes- ·           the sale, exchange or relinquishment of the asset; or ·           the extinguishment of any rights in relation to a capital asset; or ·           the compulsory acquisition of asset thereof under any law; or ·           in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried on by him, such conversion or treatment; or ·           the maturity or redemption of a zero-coupon bond; or ·           allowing possession of immovable properties to the buyer in part performance of the contract; ·           any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or ·           disposing of or parting with an asset or any interest therein or creating any interest in any asset   in any manner whatsoever.