(3)(a)For estimating the value, including the fair market value, of the asset, property, or investment, the Valuation Officer or any engineer, overseer, surveyor, or assessor authorized by such Valuation Officer, may, subject to any rules made in this regard and at such reasonable times, as may be prescribed,––(i)enter any land within the limits of the area assigned to the Valuation Officer; or(ii)enter any land, building, or other place belonging to or occupied by any person in connection with whose assessment a reference has been made to the Valuation Officer; or(iii)inspect any asset, property, or investment in respect of which a reference has been made to the Valuation Officer.(b)The Valuation Officer or any engineer, overseer, surveyor, or assessor, may require any person in charge of, or in occupation or possession of, such land, building, or other place or such asset, property, or investment to afford the necessary facility to:—(i)survey or inspect such land, building, or other place or such asset, property, or investment;(ii)estimate its value; or(iii)inspect any books of account, document, or record relevant for the valuation of such asset, property, or investment and gather other particulars relating to it.(c)The Valuation Officer, engineer, overseer, surveyor, or assessor shall enter any land, building or place referred to in clause (a)(ii), or inspect any asset, property, or investment referred to in clause (a)(iii), with the consent of the person in charge of, or in occupation or possession of, such land, building, place, or asset, property, or investment, after providing such person at least two days' notice in writing of his intention to do so.(d)If a person who, under this sub-section, is required to afford any facility to the Valuation Officer or the engineer, overseer, surveyor, or assessor, either refuses or evades to afford such facility, the Valuation Officer shall have all the powers as are vested in a court under the Code of Civil Procedure, 1908, when trying a suit in respect of the following matters,—(i)discovery and inspection;(ii)enforcing the attendance of any person, including any officer of a banking company, and examining him on oath;(iii)compelling the production of books of account and other documents; and(iv)issuing commissions.
