Section 251 — Copying, extraction, retention and release of books of account and documents seized or requisitioned

(1) Where the authorised officer referred to in section 247(1) has no
jurisdiction over the person referred to in section 247(1)(a) or (b), assets and
material seized or requisitioned under section 247(1) to 247(4) shall be handed over
to the Assessing Officer having jurisdiction over such person within a period of one
hundred and eighty days from the date on which a search is initiated under section
247 or requisition is made under section 248 and such Assessing Officer thereupon
shall exercise the powers under sub-sections (2) and (3).
(2) The authorised officer shall, on an application made by the person from whose
custody any material seized or requisitioned, are seized under section 247(1) to (4),
allow such person, in the presence of such officer or any other person empowered
by such officer in this behalf, to make copies thereof or take extracts therefrom, at
such place and time as appointed by such officer.
(3) The authorised officer may––
( a) retain the assets and material seized or requisitioned, under section 247
or 248, up to one month from the end of the quarter in which the order
of assessment or reassessment or recomputation is made under section
270(10) or section 271 or section 279 or section 294(1)(c);
( b) retain such assets and material seized or requisitioned, beyond the period
specified in clause (a), after recording reasons in writing and obtaining
approval from the approving authority.
(4) The approving authority shall not allow the retention of assets and material seized
or requisitioned, beyond thirty days from the date on which all the proceedings
under the Income-tax Act, 1961 (43 of 1961) or this Act in respect of the years for
which the assets and material seized or requisitioned are relevant, are completed.
(5) If a person legally entitled to the assets and material seized or requisitioned
under section 247(1) to (4) or section 248, objects for any reason, to the approval
given by approving authority under sub-section (3)(b), he may make an application
to the Board stating therein the reasons for such objection and requesting for the
return of the assets and material seized or requisitioned and the Board may, after
giving the applicant an opportunity of being heard, pass such orders as it thinks fit.