An alignment telescope is a test equipment that helps align optical systems and components with high precision and accuracy. It is also known as Strike Sight Alignment Telescope.
Serial number: 1048/74
Internal scale marks to show UP, DOWN, LEFT, RIGHT, +5, +10, -5, -10
The distant objects viewed through this scope are upside down.
Please see photos for further details.
Here is a reference page for this or similar telescope.