Dismissing the appeal of the revenue the Court held that ; the appellate authorities, on the facts, had held that though the car was held by the assessee in his name, it was funded and maintained by his foreign principal, on whose behalf the assessee held the car. The foreign principal did not have any office or branch in India. It was also found that for the earlier assessment years, 1986-87, 1987-88, 1990-91 and 1991-92, the value of the car was not included. Being concurrent findings of fact and having had regard to the fact that the car was funded by the assessee’s foreign principal and maintained on its behalf, the value of the car could not be included in the net wealth of the assessee.(AY.1992-93)