ITA 4/2011 BEFORE HON’BLE THE CHIEF JUSTICE MR.MADAN B. LOKUR HON’BLE MR. JUSTICE B.D. AGARWAL (Madan B. Lokur, CJ) After hearing learned counsel for the parties, we admit this appeal and formulate the following substantial questions of law for consideration :- 1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the assessee was an educational institution within the meaning of Section 10(22) of the Income-tax Act, 1961, and was hereby entitled to exemption under that section ? 2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified and correct in law in holding that the assessee was a non-profit making organization although the constitutive document under which it was create d provided for carrying on of any other trade or business apart from printing an d publication of books and also for distribution of dividends amongst its member s ? Learned counsel for the parties are agreed that in view of the decision of the Supreme Court in Assam State Book Production and Publication Corporation Ltd. -Vs.- Commissioner of Income Tax, (2009) 319 ITR 317 (SC), the matter is re quired to be considered de-novo by the Assessing Officer in the light of the jud gment of the Rajasthan High Court in CIT V. Rajasthan State Text Book Board (200 4) 244 ITR 667 and of the Orissa High Court in Secondary Board of Education v. I TO (1972) 86 ITR 408 and other subsequent decisions that may be referred. The Assessing Officer will also take into consideration the letter dated 19th August, 1975, which is referred to in the decision rendered by the Rajasth an High Court. Under the circumstances, we answer the questions in negative and in favo ur of the assessee and against the revenue.