Section 92D — Maintenance and keeping of information and document by persons entering into an 1[international transaction or specified

Maintenance and keeping of information and document by persons entering into an 1[international transaction or specified domestic transaction].—(1) Every person who has entered into an 1[international transaction or specified domestic transaction] shall keep and maintain such information and document in respect thereof, as may be prescribed. 2[Provided thatthe person, being a constituent entity of an international group, shall also keep and maintain such information and document in respect of an international group as may be prescribed. Explanation.—For the purposes of this section,— (A) “constituent entity” shall have the meaning assigned to it in clause (d) of sub-section (9) of section 286; (B) “international group” shall have the meaning assigned to it in clause (g) of sub-section (9) of section 286.] (2) Without prejudice to the provisions contained in sub-section (1), the Board may prescribe the period for which the information and document shall be kept and maintained under that sub-section. (3) The Assessing Officer or the Commissioner (Appeals) may, in the course of any proceeding under this Act, require any person who has entered into an 1[international transaction or specified domestic transaction] to furnish any information or document in respect thereof, as may be prescribed under sub- section (1), within a period of thirty days from the date of receipt of a notice issued in this regard: Provided that the Assessing Officer or the Commissioner (Appeals) may, on an application made by such person, extend the period of thirty days by a further period not exceeding thirty days. 2[(4) Withoutprejudice to the provisions of sub-section (3), the person referred to in the proviso to sub-section (1) shall furnish the information and document referred to in the said proviso to the authority prescribed under sub-section (1) of section 286, in such manner, on or before the date, as may be prescribed.] 92E.Report from an accountant to be furnished by persons entering into 1[international transaction or specified domestic transaction].—Every person who has entered into an1[internationaltransaction or specified domestic transaction] during a previous year shall obtain a report from an accountant and furnish such report on or before the specified date in the prescribed form duly signed and verified in the prescribed manner by such accountant and setting forth such particulars as may be prescribed. 92F.Definitions of certain terms relevant to computation of arm’s length price, etc.—In section 92, 92A, 92B, 92C, 92D and 92E, unless the context otherwise requires,— (i) “accountant” shall have the same meaning as in the Explanation below sub-section (2) of section 288; (ii) “arm’s length price” means a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions; (iii) “enterprise” means a person (including a permanent establishment of such person) who is, or has been, or is proposed to be, engaged in any activity, relating to the production, storage, supply, distribution, acquisition or control of articles or goods, or know-how, patents, copyrights, trade- marks, licences, franchises or any other business or commercial rights of similar nature, or any data, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process, of which the other enterprise is the owner or in respect of which the other

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