Allowing the appeal of the assessee Court held that; The Income-tax Act, 1961 does not define what is “an undertaking” or what is an “industrial undertaking”. Words used in a statute dealing with matters relating to the general public are presumed to have been used in their popular rather than their narrow, legal or technical sense. The expression “industrial undertaking” therefore, should be understood to have been used in section 35D of the Act in a wide sense, taking in its fold any project or business a person may undertake. Hence a bank extending financial services, would be entitled to amortisation of preliminary expenses in connection with the issue of shares for public subscription. (AY. 1996 -97 to 2006 -07)