ORDER

Though we are dismissing this writ petition preferred under Art. 32 of the Constitution of India at the stage of admission itself, we deem it appropriate to record our reasons therefor in view of the contentions urged by Shri N. A. Palkhivala, learned senior advocate for the petitioner.

2. In Commissioner of Income-tax v. N. C. Budharaja & Co., (1993) 204 ITR 412 ), a Bench of this Court comprising one of us (B. P. Jeevan Reddy. J.) and N. Venkatachala, J. held inter alia that the words "construction, manufacture or production of any article or thing not being an article or thing specified in the list in the Eleventh Schedule" occurring in sub-cl. (iii) of clause (b) of sub-sec. (2) of S. 32-A of the Income-tax Act, 1961 do not take in construction of a dam, a building, a bridge, a road and the like, The reason given was that a dam, a building, a bridge or road cannot be brought within the purview of the words "article or thing". After referring to the legislative history of the said clause it was held that the words "any article or thing" refer to only movables and that the use of the word "construction" in the said clause is referable to construction of ships. It was held tha