1985 (1) TMI 109

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....see's claim, submitted that under s. 5(i)(xxa) r/w s. 45(d) and looking to Item 26 of the Ninth Schedule of the IT Act, it is unequivocally proved that the assessee shareholding was a concern which was manufacturing heavy chemicals and, therefore, claim of exemption in that regard is in order. He, besides originally producing number of authorities to explain the technical part regarding its claim, submitted Photostat extract from the book A Complete Course in ISC Chemistry, Volume 1 by V. P. Sexena, 1982 Edn. and placed his reliance on page 2.93 of the same. Similarly also he produced photostat extract from Chamber's Twentieth Century Dictionary edited by A. M. Machdonald, 1977 Edn. page 602(1-2). Also the assessee's ld. counsel relied on L....

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....im was not rightly allowed as it was not covered under heavy chemicals. 4. After taking into consideration the rival submissions and going thoroughly through the technical aspect of the matter we are convinced that the assessee's shareholding was in a concern which was producing heavy chemicals, and looking to s. 5(1)(xx)(a), on the one hand, and s. 45(d), on the other hand, and Item 26 of the Ninth Schedule, and the scientific definitions and meanings given by dictionary, Law Lexicon and Legal Maxims and other books on the subject, the assessee's shareholding was in a concern which was producing or manufacturing heavy chemicals, as above said, and, therefore, the assessee should not have been denied benefit under s. 5(1)(xx)(a). 5. W....

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....als', are those produced on a large scale for use industry. This meaning is also supported by Venkataramaiya's Law Lexicon and Legal Maxims, wherein at p. 1005-1006 'heavy chemicals' is defied as including industrial gases. Photostat copies of all these are placed on the assessee's compilation. Similar is the mean given by the author in Encyclopaedia of the Social Sciences, where at page 300 'heavy chemicals' is defined and described as 'in general include all those enterprises which turn out bulky chemicals cheap for unit of weight'. It is further mentioned in the same that 'usage and pinion very considerably as the specific industries possessing these general economic characteristics, but in most countries at the present time, the heavy c....