88[Power to take evidence on oath, etc.
37. (1) The 89[Assessing Officer], 90[Valuation Officer,] 91[Deputy Commissioner
(Appeals)], 92[Commissioner (Appeals),] 93[Chief Commissioner or Commissioner] and the Appellate Tribunal shall,
for the purposes of this Act, have the same powers as are vested in a court
under the Code of Civil Procedure,1908 (5 of 1908), when trying a suit in
respect of the following matters, namely:—
(a) discovery and inspection;
(b) enforcing the attendance of any person, including any
officer of a banking company and examining him on oath;
(c) compelling the production of books of account and other
documents; and
(d) issuing commissions.
94[(1A) If the Director General or Director or 95[Joint] Director or Assistant
Director 96[or Deputy Director], or the
authorised officer referred to in sub-section (1) of section 37A before he
takes action under clauses (i) to (vi) of that sub-section, has
reason to suspect that any net wealth has been concealed, or is likely to be
concealed, by any person or class of persons within his jurisdiction, then, for
the purposes of making any inquiry or investigation relating thereto, it shall
be competent for him to exercise the powers conferred under sub-section (1) on
the wealth-tax authorities referred to in that sub-section, notwithstanding
that no proceedings with respect to such person or class of persons are pending
before him or any other wealth-tax authority.]
97(2) [Omitted by the Direct Tax Laws (Amendment)
Act, 1987, w.e.f. 1-4-1989.]
(3) Subject to any rules made in this behalf, any
authority referred to in sub-section (1) 98[or sub-section (1A)] may impound and retain in its
custody for such period as it thinks fit any books of account or other
documents produced before it in any proceeding under this Act:
Provided that 99[an Assessing Officer] 1[or a Valuation Officer] 2[or an Assistant Director 3[or a Deputy Director]] shall not—
(a) impound any books of account or other documents without
recording his reasons for so doing, or
(b)
retain in his custody any such books or documents for a period exceeding
fifteen days (exclusive of holidays) without obtaining the approval of the 4[5[Chief Commissioner or Director General or Commissioner or
Director therefor, as the case may be]].
(4) Any proceeding under this Act before a wealth-tax
authority or the Tribunal shall be deemed to be a judicial proceeding within
the meaning of sections 193 and 228, and for the purposes of section 1966 of the Indian Penal Code (45
of 1860).]