Just to clarify on the step-up/step-down thing: this transformer was pretty clearly originally designed as a 'step-down' transformer. As others have noted, this transformer is capable of being used as a 'step-up' transformer, and may even have proper documents for such 'reverse' use.
The clue is the location of the voltage adjustment taps. The voltage adjustment taps change the 'turns ratio' between primary and secondary, so that you can get the correct secondary voltage even if the primary voltage is a bit out of spec.
In the vast majority of cases the voltage adjustment taps are placed on the primary side of the transformer. This lets the voltage adjustment change both the turns ratio of the transformer and adjust the magnetic flux level in the transformer core. If you place the voltage adjustment taps on the secondary side, then if your primary voltage is higher than nominal the transformer core will have excessive saturation and losses.
I have a drive isolation transformer with voltage taps on the secondary side, but this is very rare.
So when you look at that transformer dataplate, and you see the taps on the HV side, you can be quite certain that you have a 480V:240V step down transformer used in reverse.
-Jonathan