It is a practice flat shot. Flat topped to limit range and ricochet.
Anti tank guns had a practice flat shot for range practice, usually with a reduced load.
These are often called a proof shot today but that is incorrect as a proof shot has no tracer and is fired with an overcharge to proof the gun.
The markings indicate 2 pounder Mk 1 (shot) with tracer (T)
For Mk IX and X guns which were the anti tank guns, rather than the pom pom type.
RL likely Royal Laboratories.
10/38 is the date.
BS indicates it is turned from bar stock
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Adrian Barrell
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