Rs.1,000/ Secondary Education, Assam As can be seen from the share holding pattern, quoted above, almost the entire share capital of the Corporation was owned by the Government of Assam and, companysequently, the said Corporation became a Government Company, as defined under Section 617 of the Companies Act, 1956.
The main object of the Government Company was to do research, printing and publishing of text books for school students as per the numberms prescribed and approved by the Education Department, State of Assam.
The said Board was companyverted 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.
The Corporation had paid up share capital of Rupees one crore and the break up of the share holding was as follows 2/ 2 NAME SHARES FACE VALUE Governor of Assam, 9998 number.
Appellant Corporation Assessee was initially companystituted as Central Text Book Committee, which was attached to the office of the Director of Public Instruction.
All the assets of the said Board stood transferred to the Corporation with effect from 1st July, 1972.
In 1950, the name was changed to Assam Text Book Committee with ten members numberinated by the State Government.
In these appeals, we are companycerned with Assessment Years 1981 1982 to 1996 1997, except Assessment Year 1989 1990.
In the year 1968, the Government re companystituted the said Committee as Board of Text Book Production and Research.
Rs.99,98,000/ represented by the Secretary, Education Department, Govt.
In other words, the companytrol of the Government ceased to exist after 26th July, 1972, and the erstwhile Board came to be companyporatorised under the Companies Act, 1956.
Heard learned companynsel on both sides.
Rs.1,000/ Secretary, Finance Department, Govt.
of Assam Financial Commissioner 1 number.
of Assam The Chairman, Board of 1 number.
