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recd a car from a friend on 1/11/2009 is taxable or not?

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(Querist)
04 February 2010 recd a car from a friend on 1/11/2009 is taxable or not?
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CA.Pujah

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CA.Pujah (Expert)
05 February 2010 taxable amount will be:
the fair market value of the car
less: consideration, if any paid by you.
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vishal

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vishal (Querist)
05 February 2010 but sir i think in the given defination car is not covered ,movable property means jewelary ,securities ,painting etc only plz clear my dout sir
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CA.Pujah

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CA.Pujah (Expert)
05 February 2010 i m sorry. you are right. movable property doesn't include car.
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