( 1 ) A simple question has been raised by Mr. Khaitan, appearing on behalf of the assessee, challenging the order of the learned Tribunal in respect of the assessment year 1986-87 on the strength of an agreement executed on September 1, 1986, when the accounting year expired on September 30, viz : whether the subject vehicles so leased under the said agreement were used for the purpose of business in the previous year 1986-87 in order to enable the assessee to obtain the benefit of depreciation under Section 32 of the Income-tax Act, 1961. Submission on behalf of the appellant:

( 2 ) MR. Khaitan had supported his submission on the basis of the materials on record relying on certain decisions to which we shall be referring at the appropriate stage. According to him, the assessee having been carrying on the business of leasing out, as soon as the vehicles were leased out, the vehicles are used for the purpose of the assessee's business. He referred to various terms of the agreement and pointed out that the vehicle, which was purchased on August 4, 1986, was intended to be taken delivery of by the lessee at his own risk from the supplier and the registration was also