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

The Supreme Court examined whether the Corporation, established under Section 617 of the Companies Act, 1956, qualified as an 'Educational Institution' under Section 10(22) of the Income Tax Act, 1961. The Court held that the Corporation's income from publishing and selling textbooks did not meet the criteria for exemption, as it did not exist solely for educational purposes, thus affirming the High Court's ruling. The decision clarified the interpretation of 'educational purposes' in the context of profit-making activities.