Commercial meaning of "bullion" governs sales tax classification; platinum could not be covered without evidence of trade parlance.

Platinum could not be treated as "bullion" for sales tax classification under the Bombay Sales Tax Act merely on the basis of its being a precious metal or on dictionary meaning. The correct approach to a commercial taxing entry required evidence of the expression's common parlance or trade parlance meaning before deciding whether platinum fell within Schedule E. Because no such evidence had been led, the Tribunal's view that platinum was covered by "bullion" was not correct in law. The reference was answered against that conclusion, and the matter was remitted for fresh determination after allowing evidence on the relevant meaning of "bullion".

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Issues: Whether platinum fell within the expression "bullion" in entry 1 of Schedule E to the Bombay Sales Tax Act, 1959, and whether that question could be decided without evidence as to the common parlance or trade parlance meaning of "bullion".

Analysis: The question referred arose in a sales tax determination under the Bombay Sales Tax Act, 1959. The earlier authorities had proceeded mainly on the basis that platinum was a precious metal and on dictionary meanings of the term "bullion". No evidence had been led regarding the meaning of "bullion" in common parlance or trade parlance. In such a situation, the correct approach required evidence on the ordinary and commercial understanding of the expression before deciding whether platinum was covered by the entry.

Conclusion: The Tribunal was not correct in law in holding that platinum was covered by the word "bullion" without evidence of its common parlance or trade parlance meaning.

Final Conclusion: The reference was answered against the Tribunal's conclusion and the matter was sent back for fresh determination after allowing evidence on the relevant meaning of "bullion".

Ratio Decidendi: A classification under a taxing entry using a commercial expression must be decided on evidence of its common parlance or trade parlance meaning, and not solely on dictionary meaning or the fact that the commodity is precious.

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