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<h1>Section 2 of Income-tax Act, 1961 redefines 'transfer' for capital assets, expanding its scope significantly.</h1> The amendment to Section 2 of the Income-tax Act, 1961, redefines the term 'transfer' concerning a capital asset. It now includes the sale, exchange, or relinquishment of the asset, the extinguishment of any rights in the asset, compulsory acquisition under any law, and conversion or treatment of the asset as stock-in-trade by the owner in a business context.