Wealth tax

S. 2(ea)"assets", in relation to the assessment year commencing on the 1st day of April, 1993, or any subsequent assessment year, means-

ii) motor cars (other than those used by the assessee in the business of running them on hire or as stock-in-trade)

Since it does not satisfies this condition it shall be an asset

I thnik car is not used in the business of hiring and kept as stock in trade by a dealer.

so the car used in the business by an individual is an asset under the welath tax.