Substitution of new section for section 271AA.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ormation and document, etc., in respect of certain transactions.       "271AA. Without prejudice to the provisions of section 271 or section 271BA, if any person in respect of an international transaction,--            (i) fails to keep and maintain any such information and document as required by sub-section (1) or s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ho has entered into international transaction as defined in section 92B, fails to keep and maintain any such information and document as required by sub-section (1) or sub-section (2) of section 92D, the Assessing Officer or the Commissioner (Appeals) may direct such person shall pay, by way of penalty, a sum equal to two per cent. of the value of each international transaction entered into by suc....