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Is an asset purchased not for business to be informed to itd

This query is : Resolved 
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(Querist)
04 December 2012 Dear Sir,

Please clarify my doubt. If any person having no business income purchased an asset e.g I bought an asset not for the purpose of business is required to inform IT Department in the form of ITR or any other mode?

Thank you.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
04 December 2012 Earlier AIR was to be filed by an assessee in respect of specified purchases. However this requirement has now been done away and the assessee is not required ot furnish any information.
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