2002 (11) TMI 793

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....1961 (in short the Act) is directed against the order, dt. 21st Nov., 2001, passed by the Tribunal, New Delhi in ITA 2089/Del/2001, pertaining to the asst. yr. 1995-96. 2. Two main issues namely, (i) whether action under s. 147(a) of the IT Act, 1961, was validly initiated, and (ii) whether the assessee was entitled to claim depreciation @ 40 per cent on the vehicles which had been leased out b....