Retention and release of books of account or documents seized or requisitioned.
137. (1) The Authorised Officer shall hand over the books of account or documents seized under section 135, within a period of sixty days from the date on which the last of the authorisations for search was executed, to the Assessing Officer, if the Authorised Officer has no jurisdiction over the person from whom the books of account or documents were seized.
(2) The Requisitioning Officer shall hand over the books of account or documents delivered under section 136, within a period of sixty days from the date on which books of account or documents were received, to the Assessing Officer, if the Requisitioning Officer has no jurisdiction over the person from whom the books of account or documents were taken into custody under any other law for the time being in force.
(3) The officers, referred to in sub-sections (1) and (2), shall, on an application made by the assessee, allow him to make copies of, or take extracts from, the books of account or documents seized or requisitioned.
(4) The Assessing Officers may retain the books of account or documents, seized or requisitioned, up to a period of thirty days from the date of limitation for compleation of assessment, specified in section 163.
(5) The Assessing Officer may retain the books of account or documents seized beyond the period specified in sub-section (4) after obtaining the approval of the Chief Commissioner or the Commissioner.
(6) The Chief Commissioner, or the Commissioner, shall not allow the retention of the books of account or documents seized, beyond a period of thirty days from the date on which the proceedings under this Code, for which such books of account or documents are relevant, are completed.
(7) The officers, referred to in sub-sections (1) and (2), may, with the approval of the Chief Commissioner or the Commissioner, return any books of account or documents before completion of assessment or any other relevant proceedings, after retaining a copy or extract of such books of account or documents, if he is satisfied that the return of such books of account or documents shall not adversely affect the interest of revenue.
