Requisition and delivery of assets now require transfer to the requisitioning officer with seized-equivalent treatment under applicable provisions. Section 37B is amended to require delivery of 'books of account, other documents, or assets' to the requisitioning officer, substituting 'any assets' for prior language and replacing references to the Wealth-tax Officer with 'Assistant Commissioner or Income-tax Officer.' The delivering officer must transfer those items either forthwith or when it is no longer necessary to retain them. Items so delivered are to be treated, as far as may be, as if seized under section 37A(1), and subsections (5)-(12) of section 37A and section 37C apply with 'the requisitioning officer' substituted for 'the authorised officer.'
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Provisions expressly mentioned in the judgment/order text.
Requisition and delivery of assets now require transfer to the requisitioning officer with seized-equivalent treatment under applicable provisions.
Section 37B is amended to require delivery of "books of account, other documents, or assets" to the requisitioning officer, substituting "any assets" for prior language and replacing references to the Wealth-tax Officer with "Assistant Commissioner or Income-tax Officer." The delivering officer must transfer those items either forthwith or when it is no longer necessary to retain them. Items so delivered are to be treated, as far as may be, as if seized under section 37A(1), and subsections (5)-(12) of section 37A and section 37C apply with "the requisitioning officer" substituted for "the authorised officer."
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