Section 58 - Amendment of section 133A - Finance Act, 2002

58. Amendment of section 133A.- In section 133A of the Income-tax Act, with effect from the 1st day of June, 2002,- (a) in sub-section (3), after clause (i), the following clause shall be inserted, namely:- "(ia) impound and retain in his custody for such period as he thinks fit any books of account or other documents inspected by him: Provided that such income-tax authority shall not- (a) impound any books of account or other documents except after recording his reasons for so doing; or (b) retain in his custody any such books of account or other documents for a period exceeding fifteen days (exclusive of holidays) without obtaining the approval of the Chief Commissioner or Director General or Commissioner or Director therefor, as the case may be."; (b) in sub-section (4), the words "any books of account or other documents or" shall be omitted.