Interpretation of word ‘or’

Spentex Industries Ltd. vs. CCE [2015] 62 taxmann.com 101 (Supreme Court)

The assessee has claimed rebate under certain notifications issued by Board under Rule 18 of Central Excise Rules, 2002. It was held that the word ‘OR’ occurring in Rule 18 cannot be given literal interpretation as that leads to various disastrous results pointed out in the preceding discussion and, therefore, this word has to be read as ‘and’ as that is what was intended by the rule maker in the scheme of things and to carry out the objectives of the Rule 18 and also to bring it at par with Rule 19. The principle that the word ‘or’ is normally disjunctive and ‘and’ is normally conjunctive. However, there may be circumstances where these words are to be read as vice versa to give effect to manifest intention of the Legislature as disclosed from the context