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TMI Blog1983 (12) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... sale of chemicals. In the course of the assessment proceedings for the assessment years 1978-79, 1979-80 and 1980-81, the ITO found that the assessee had sold certain parts of its machinery at prices considerably below their written down value. The actual figures are that the sale proceeds fell short of the written down value by Rs. 29,990 in the assessment year 1979-80 and Rs. 38,915 in the assessment year 1980-81. The assessee explained that the parts of the machinery were no longer usable and so they were scrapped and sold as such resulting in the aforesaid losses. The written down value of the machinery sold was Rs. 30,940 and the sale proceeds were Rs. 950 in the assessment year 1979-80. The original cost of the same machinery was Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich development rebate was given. According to the assessee, the machineries sold should remain as usable machineries for the same purposes for which the assessee had installed the same ; otherwise, their sale would be outside the purview of section 155(5). The Commissioner (Appeals) did not agree with the above contention on the ground that the clear wording of section 155(5) did not support the contention of the assessee. In this view of the matter, he upheld the orders of the ITO and dismissed the appeals. 5. Shri M.M. Parulekar, the learned representative for the assessee, urged before us that the only dispute in these appeals is whether the things sold by the assessee as scrap could be said to be machineries or plant for the purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant part by part as scrap would take a case out of the mischief of section 155(5). In other words, whether the phrase 'ship, machinery or plant' appearing in section 155(5) includes unusable parts of the ship, machinery or plant which has become unusable for the original purpose for which they were acquired by the assessee. If the phrase includes the said parts which were first described as scrap and then sold then, obviously, section 155(5) would apply ; otherwise, it will not apply. Assuming for a moment that the parts of the machinery or plant which has become unusable for the original purpose for which it was acquired by the assessee can no longer be described as machinery or plant, then the question which arises is : how to describe t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... We do not find any scope for having two views on the matter or any debate or long drawn out reasoning for arriving at the conclusion. The language of the provision is indeed clear and categorical and admits of no ambiguity or doubt. We feel fortified in our decision by the oft-quoted dictum of Justice Rowlett in Cape Brandy Syndicate v. IRC [1921] 2 KB 403 to the effect that "In a taxing Act one has to look merely at what is clearly said. There is no room for any intendment. There is no equity about a tax. There is no presumption as to a tax. Nothing is to be read in, nothing is to be implied. One can only look fairly at the language used." For the above reasons, we uphold the order of the Commissioner (Appeals) for all the three years und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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