Section 35 - Amendment of section 132 - Taxation Laws (Amendment) Act, 1975

35. Amendment of section 132. In section 132 of the Income-tax Act,- (a) in sub-section (1), (i) in the opening paragraph, for the words Where the Director of Inspection or the Commissioner, , the following shall be substituted, namely: Where the Director of Inspection or the Commissioner or any such Deputy Director of Inspection or Inspecting Assistant Commissioner as may be empowered in this behalf by the Board, ; (ii) in clause (c), for the words which has not been disclosed , the words which has not been, or would not be, disclosed shall be substituted; (iii) for the portion beginning with the words he may authorise and ending with the brackets and words (hereinafter referred to as the authorised officer) to , the following shall be substituted, namely: then (A) the Director of Inspection or the Commissioner, as the case may be, may authorise any Deputy Director of Inspection, Inspecting Assistant Commissioner, Assistant Director of Inspection or Income-tax Officer; or (B) such Deputy Director of Inspection or Inspecting Assistant Commissioner, as the case may be, may authorise any Assistant Director of Inspection or income-tax Officer, (the officer so authorised in all cases being hereinafter referred to as the authorised officer) to ; (iv) in clause (i), for the words building or place , the words building, place, vessel, vehicle or aircraft shall be substituted; (v) after clause (ii), the following clause shall be Inserted, namely: (iia) search any person who has got out of, or Is about to get into, or is in, the building, place, vessel, vehicle or aircraft, if the authorised officer has reason to suspect that such person has secreted about his person any such books of account, other documents, money, bullion, jewellery or other valuable article or thing; ; (vi) the following proviso shall be inserted at the end, namely: Provided that where any building, place, vessel, vehicle or aircraft referred to in clause (i) is within the area of jurisdiction of any Commissioner, but such Commissioner has no jurisdiction over the person referred to in clause (a) or clause (b) or clause (c), then, notwithstanding anything contained in section 121, it shall be competent for him to exercise the powers under this sub-suction in all cases where he has reason to believe that any delay in getting the authorisation from the Commissioner having jurisdiction over such person may be prejudicial to the interests of the revenue. ; (b) after sub-section (1), the following sub-section shall be inserted, namely: (1A) Where any Commissioner, in consequence of information in his possession, has reason to suspect that any books of account, other documents, money, bullion, jewellery or other valuable article or thing in respect of which an officer has been authorised by the Director of Inspection or any other Commissioner or any such Deputy Director of Inspection or Inspecting Assistant Commissioner as may be empowered in this behalf by the Board to take action under clauses (i) to (v) of sub-section (1) are or is kept in any building, place, vessel, vehicle or aircraft not mentioned in the authorisation under sub-section (1), such Commissioner may, notwithstanding anything contained in section 121, authorise the said officer to take action under any of the clauses aforesaid in respect of such building, place, vessel, vehicle or aircraft. ; (c) in sub-section (2), after the word, brackets and figure sub-section (1) , the words, brackets, figure and letter or sub-section (1A) shall be inserted; (d) after sub-section (4), the following sub-section shall be inserted, namely: (4A) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search, it may be presumed (i) that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and (iii) that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably be assumed to have been sighed by, or to be in the handwriting of, any particular person, are in that person s handwriting, and in the case of a document stamped, executed or attested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested. ; (e) in sub-section (5), (i) for the opening paragraph, the following shall be substituted, namely: Where any money, bullion, jewellery or other valuable article or thing (hereafter in this section and in sections 132A and 132B referred to as the assets) is seized under sub-section (1) or sub-section (1A), the Income-tax Officer, after affording a reasonable opportunity to the person concerned of being heard and making such enquiry as may be prescribed, shall, within ninety days of the seizure, make an order, with the previous approval of the Inspecting Assistant Commissioner, ; (ii) after clause (ii), the following clause shall be inserted) namely: (iia) determining the amount of interest payable and the amount of penalty imposable in accordance with the provisions of the Indian Income-tax Act, 1922 (11 of 1922) or this Act, as if the order had been the order of regular assessment; ; (iii) for the words, brackets and figures clauses (ii) and (iii) , at both the places where they occur, the words, brackets, figures and letter clauses (ii), (iia) and (iii) shall be substituted; (iv) in the first proviso, after the words the financial year in which the assets were seized , the words and may also determine the interest or penalty, if any, payable or imposable accordingly shall be inserted; (f) in sub-section (6), for the word, figures and letter section 132A , the word, figures and letter section 132B shall be substituted; (g) In sub-section (8), after the word, brackets and figure sub-section (1) , the words, brackets, figure and letter or sub-section (1A) shall be inserted; (h) in sub-section (9), after the word, brackets and figure sub-section (1) , the words, brackets, figure and letter or sub-section (1A) shall be inserted; (i) after sub-section (9), the following sub-section shall be inserted, namely: (9A) Where the authorised officer has no jurisdiction over the person referred to in clause (a) or clause (b) or clause (c) of sub-section (1), the books of account or other documents or assets seized under that subsection shall be handed over by the authorised officer to the Income-tax Officer having jurisdiction over such person within a period of fifteen days of such seizure and thereupon the powers exercisable by the authorised officer under sub-section (8) or sub-section (9) shall be exercisable by such Income-tax Officer. ; (j) in sub-section (10), after the word, brackets and figure sub-section (1) , the words, brackets, figure and letter or sub-section (1A) shall be inserted; (k) for sub-section (13), the following sub-section shall be substituted, namely: (13) The provisions of the Code of Criminal Procedure, 1973 (2 of 1974), relating to searches and seizure shall apply, so far as may be, to searches and seizure under sub-section (1) or sub-section (1A). ; (l) in sub-section (14), in clause (i), for the words such building or place , the words any building, place, vessel, vehicle or aircraft shall be substituted.