Law:

Section:

Section 10(22) [omitted by the Finance (No. 2) Act, 1998 with effect from 1-4-1999] of the Income-tax Act, 1961 - Educational institutions - Assessment years 1981-82 to 1988-89 and 1990-91 to 1996-97 - Assessee-corporation was initially constituted as 'Central Text Book Committee' - In year 1972, it became a Government company and its name was changed to Assam State Text Book Production and Publication Corporation Ltd. - Assessee's aim was to do research, printing and publishing of text books for school students as per norms prescribed and approved by Education Department, State ofAssam- It claimed benefit of exemption under section 10(22) - Assessing Officerdenied exemption on ground that assessee could not be termed as an educational institution in terms of section 10(22) as it did not exist solely for educational purposes - Dispute reached High Court which upheld action of Assessing Officer - Whether since High Court had decided case without considering historical background of assessee and other relevant material, decision of High Court was to be set aside and matter was to be remitted back to Assessing Officer to consider it de novo in light of s of High Courts rendered in cases of CIT v. Rajasthan State Text Book Board [2000] 244 ITR 667/[2001] 113 Taxman 204 (Raj.) and Secondary Board of Education v. ITO [1972] 86 ITR 408 (Orissa) and CBDT's letter dated 19-8-1975 and also letter of Central Government dated 9-7-1973 - Held, yes FACTS The assessee was initially constituted as 'Central Text Book Committee', which was attached to the office of the Director of Public Instruction. In 1950, its name was changed to 'Assam Text Book Committee' with ten members nominated by the State Government. In the year 1968, the Government reconstituted the said Committee as 'Board of Text Book Production and Research'. The said Board was converted into corporation in 1972 vide notification dated 26-7-1972 and the name was changed to 'Assam State Text Book Production and Publication Corporation Limited'. All the assets of the said Board stood transferred to the corporation with effect from 1-7-1972. As almost the entire share capital of the corporation was owned by the…

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