Section 2(14) read with section 48 & 54EC of the Income Tax Act, 1961 — Capital asset — Transferable Development Right given to owner by Municipality in lieu of acquisition of immovable property is Capital asset. if TDR was earlier sold to third party but same was cancelled, it could not be considered as purchase from said third party and period of holding of TDR was to be calculated from date of acquisition of assessee's property by Municipality — Adi D Vachha vs. Income tax Officer [2019] 179 ITD 356 (Mumbai—trib)