How is “no can do” used?

In Trading Places (1983), one line is: “No can do. I'll be having dinner with Penelope, tonight.”

Which movie is “no can do” from?

The clip at the top of this page is from Trading Places (1983).

No can do. I'll be having dinner with Penelope, tonight.

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used to say that you are not able or willing to do sth

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used to say that you are not able or willing to do sth
Look, I got love for you, bro, but no can do.
No can do.

定義：Oxford Advanced Learner's Dictionary 第 9 版