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Motor Car under wealth tax act

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(Querist)
10 March 2008 Whether Motor car used for business purpose is an asset u/s 2(ea) of wealth tax act.
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pushpendra

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pushpendra (Expert)
11 March 2008 Yes it will be covered under the business u/s 2(ea)(ii)
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
11 March 2008 YES IT IS AN ASSET
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