Powers to requisition material taken into custody
140. (1) The Competent Investigating Authority may authorise any income-tax authority (hereinafter referred to as the "Requisitioning Officer") to require any officer or authority to deliver the material, which have been taken into custody by such officer or authority under any other law for the time being in force, to the Requisitioning Officer.
(2) The authorisation under sub-section (1) shall be issued by the Competent Investigating Authority if he has, in consequence of information in his possession, reasons to believe that -
(a) any person to whom a summons under sub-section (1) of section 138, or a notice under section 151 or section 152 or section 157 was issued, has omitted or failed to produce, or cause to be produced, such material; or
(b) any person to whom a summons or notice as aforesaid has been or might be issued will not, or would not, produce or cause to be produced, such material which will be useful for, or relevant to, any preceding under the Income-tax Act, 1961 or the Wealth-tax Act, 1957 or under this Code; or
(c) any person is in possession of any material which represents either wholly or partly tax base or property which has not been, or would not be, disclosed for the purposes of the Income-tax Act, 1961 or the Wealth-tax Act, 1957 or under this Code.
(3) The officer or authority referred to in sub-section (1) shall deliver the material to the Requisitioning Officer either forthwith or when such officer or authority is of the opinion that it is no longer necessary to retain the same in his or its custody.
