I think it might go on a planer for planing deep in a casting? I think it goes on some sort of machine tool
EDIT: I think that the block of steel that is on the top with the knurled wheel looks after market and could you put a picture if the bottom so that i can see if it has box ways or a better shot of the base.
EDIT 2 for some reason i keep thinking it is a milling attachment
I honestly don't know what it is.
I thought it might be a crude radius dresser but tightening the knob on the hold down makes it difficult to rotate.
The upper slide is spring loaded to return against the stop knob.
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