Accumulated Income of Trust is taxable in the year of Sec.13 Violation

HIGH COURT OF DELHI Escorts Heart Institute & Research Centre Versus Commissioner of Income-tax, Centre W.P.(C) NO. 11909 OF 2005 DECEMBER 14, 2012 JUDGMENT R.V. Easwar, J. Shorn of all niceties, the precise question which arises for consideration in this writ petition is this. Can the assessing officer, who intends to issue notice under section 148 of the Income Tax Act, 1961 to reopen an assessment, entertain a “reason to believe” which is contrary to the statute? 2. Section 10(21) provides for exemption of any income of a scientific research association whi...