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

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....utside 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 shall be deemed to be as....

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....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, if, in any tax year, the assessee has received or cre....

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....rce; (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 being an individual, which is established in the notified jurisdictional area; or (iii) a permanent establishment ....