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

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....ory outside India, as a notified jurisdictional area in relation to transactions entered into by any assessee, 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,- (....

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....ant information from the 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 may be prescribed, in this behalf. (4) Irrespective of anything to the con....

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....at 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) For the purposes of 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 ....