9911796707
TMI Blog1985 (1) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... written arguments in respect of the assessee's claim, submitted that under section 5(1)(xxa) read with section 45(d) of the Act and looking to item 26 of the Ninth Scheduled of the Income-tax Act, 1961, it is unequivocally proved that the assessee's share-holding was in 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 I, by V.P. Saxena, 1982 edn. and placed his reliance on page 2.93 of the same. Similarly, also he produced photostat extract from Chambers Twentieth Century Dictionary edited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for industry and he went on explaining the scientific formula giving weight of nitrogen and oxygen and submitted that the assessee's claim 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 share-holding was in a concern which was producing heavy chemicals, and looking to section 5(1)(xxa) on the one hand, and section 45(d), on the other hand, and item 26 of the Ninth Schedule, and the scientific definitions and meanings given by dictionary, Law Lexion and Legal Maxims and other books on the subject, the assessee's share-holding was in a concern which was produci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at it means, when we peruse Chambers Twentieth Century Dictionary, we find at page 602 that the word 'heavy' is defined as weighty, ponderous, etc. It is further defined that 'heavy chemicals' are those produced on a large scale for use in industry. This meaning is also supported by Venkataramaiya's Law Lexicon and Legal Maxims, wherein at pages 1005-1006 'heavy chemicals' is defined as including industrial gases. Photostat copies of all these are placed on the assessee's compilation. Similar is the meaning 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'heavy chemicals' under the head 'fine chemicals' at page 39, oxygen or nitrogen has not been included in 'fine chemicals' whereas the same have been included in 'heavy chemicals' at page 7. It is mentioned there that the production of fine chemicals is calculated in kg. only. When we come to the unit of million cubic meter, it presupposes gases, which are classified in 'heavy chemicals'. 7. There is hardly any ambiguity with that what the company was manufacturing in which the shares were held by the assessee, were heavy chemicals and we need not go to the alternative submission of the learned counsel for the assessee that in case of any ambiguity, meaning beneficial to the assessee has to be adopted. According to us, there is neither a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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