in consequence of information in his possession, has reason to believe that (a) any person to whom a summon under sub section (1) of section 37 of the Indian Income tax Act, 1922 (XI of 1922) or under sub section (1) of section 131 of this Act, or a notice under sub section (4) of section 22 of the Indian Income tax Act, 1922, or under sub section (1) of section 142 of this Act was issued to produce, or cause to be produced, any books of account or other documents has omitted or failed to produce, or cause to be produced, such books of account or other documents as required by such summons or notice, or (b) any person to whom a "summons" or notice as aforesaid has been or might be issued will not, or would 708 not, produce or cause to be produced, any books of account or other.documents which will be useful for, or relevant to, any proceedings under the Indian Income tax Act, 1922 (XI of 1922) or under this Act, or (c) any person is in possession of any money, bullion jewelry or other valuable article or thing and such money, bullion, jewelry or other valuable article or thing represents either wholly or partly in come or property which has not been disclosed for the purposes of the Indian income tax Act, 1922 (XI of 1922), or this Act (hereinafter in this section referred to as the undisclosed income or property).