1977 (5) TMI 33

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....ctrical installations. 2. The assessee is an authorised dealer of Hindustan Motors and is engaged in the building of Bus bodies and chassis either purchased by itself or supplied by the customer. The assessee claimed development rebate under s. 33(1)(b)(B)(i)(b) which was denied by the ITO. On appeal, the AAC allowed the claim by referring to item (10) of the Fifth Schedule of the IT Act, 1961.....

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....es manufacturing the chasis did not normally build them up into Buses but sold them away as chassis. It was submitted that it was only the assessee who made them into Buses by building the bodies whether for supplying as a Bus or whether on a chasis supplied by the customer and therefore, in common parlance it must be understood that it was the assessee who produced the Bus since the chassis in co....

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.... the words in entries in Fiscal Acts must be understood, in the popularity and commercial sense with reference of the context in which they occur (see the recent decision of the Supreme Court in the case of Kores (India) Ltd. (1977) 9 SCC Tax 40). A reference to the Schedule itself shows that it contains the list of major industries. Read with s. 33, the intention of the legislature which we gathe....

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....ure of the Bus, it could not still be said that it is the assessee who has manufactured the Bus. Therefore, we are not satisfied that the claim of the assessee could be allowed with reference to item No. (10) of the Fifth Schedule. However, the alternative plea of the assessee with reference to item (20) appears to be sound. Automobile ancillaries are also not defined and in common parlance must b....