Special measures in respect of transactions with persons located in notified jurisdictional area.

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....y or territory outside India, as a notified jurisdictional area, having regard to the lack of effective exchange of information with such jurisdiction. (2) Irrespective of anything contrary in this Act, if an assessee enters into a transaction where one of the parties to the transaction is a person located in a notified jurisdictional area, then,- (a) all the parties to the transaction....

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....he said financial institution on behalf of such assessee; and (b) for any other expenditure or allowance (including depreciation) arising from the transaction with a person located in a notified jurisdictional area, unless the assessee maintains such other documents and furnishes such information as prescribed, in this behalf. (4) Irrespective of anything to the contrary in this Act, i....

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.... the highest of the following rates-- (a) at the rate or rates in force; (b) at the rate specified in the relevant provisions of this Act; (c) at the rate of 30%. (6) In this section,- (a) "person located in a notified jurisdictional area" shall include,- (i) a person who is resident of the notified jurisdictional area; (ii) a person, not be....