ASSAM TEXT BOOK PRODUN.& PUBN.CORP.LTD. vs. COMMR.OF INCOME TAX,GAUHATI

C.A. No.-002879-002879 - 2007Supreme Court20 October 20097 pages
For Petitioner: CORPORATE LAW GROUPFor Respondent: B. V. BALARAM DAS
AI SummaryRemanded

What did the Supreme Court hold?

The Supreme Court held that the High Court failed to consider crucial aspects like the historical background, funding, shareholding, and CBDT circulars granting similar exemptions. The Court found that the High Court's decision was not based on a comprehensive review of relevant factors.

What were the facts?

The Assam State Text Book Production and Publication Corporation Limited, a government company, sought exemption under Section 10(22) of the Income Tax Act for its income from publishing and selling textbooks. The Assessing Officer and CIT(A) denied the exemption, but the ITAT majority allowed it.

What were the issues?

Whether the Corporation qualifies as an 'Educational Institution' for exemption under Section 10(22) of the Income Tax Act, considering its nature as a government company and its profit-making activities.

Which sections of the Income-tax Act were involved?

Section 10(22)

AI-generated summary — verify with the full judgment below

Cause title — parties, addresses and appearances
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.2879 OF 2007 Assam State Text Book Production and Publication Corporation Limited ...Appellant(s) Versus Commissioner of Income Tax, Gauhati-I ...Respondent(s) With Civil Appeal Nos.2880-2887/2007 2895/2007, 2897- 2898/2007, 2901/2007, 2905/2007 and 2908/2007.

O R D E R Heard learned counsel on both sides.

Appellant-Corporation [Assessee] was initially constituted as `Central Text Book Committee', which was attached to the office of the Director of Public Instruction. In 1950, the name was changed to `Assam Text Book Committee' with ten members nominated by the State Government. In the year 1968, the Government re- constituted the said Committee as `Board of Text Book Production and Research'. The said Board was converted into Corporation in 1972 and the name was changed to `Assam State Text Book Production and Publication Corporation Limited' vide Notification dated 26th July, 1972 [for short, “the Corporation”]. All the assets of the said Board stood transferred to the Corporation with effect from 1st July, 1972. The

The order continues below.

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