(1) The Comptroller may carry out an examination of the income affairs of the business of any person liable to pay tax but subject to the limit as to time specified in section 102.
(2) For the purposes of subsection (1), the Comptroller or any officer not being below the rank of a Senior Officer authorised by him or her may at all reasonable times, and subject to prior notice, enter into any premises where any business is carried on or the records or books of account of such business are kept, and—
(a) examine such records or books of account and examine any documents which relate to income accruing from such business;
(b) inspect any trading stock of the business and any assets of the business in respect of which allowances or deductions have been or may be claimed under this Act;
(c) require the owner of the business, or any employee or agent to give him or her such reasonable assistance in connection with the examination and inspection as may be necessary and to answer orally or in writing any questions relating thereto;
(d) open or cause to be opened any article in which he or she considers any money or documents may be contained.
(3) Where, during the course of any examination or inspection, it appears to the Comptroller or the officer not below the rank of a senior officer that there may not have been a correct disclosure of assessable income or allowable deductions he or she may take possession of any books of account or other documents for further examination at the office of the Comptroller and after such examination may retain or make copies of or take extracts from such books or documents for the purposes of any prosecution or the substantiation of any assessment.
(4) For the purposes of this section "document" includes microfilm.
(Amended by Act 7 of 2006)