(3)Where during the course of any proceeding for the assessment of income, the Assessing Officer is, on the basis of material or information or document in his possession, of the opinion that-(a)the price charged or paid in an international transaction has not been determined in accordance with sub-sections (1) and (2); or(b)any information and document relating to an international transaction have not been kept and maintained by the assessee in accordance with the provisions contained in sub-section (1) of section 92-D and the rules made in this behalf; or(c)the information or data used in computation of the arm's length price is not reliable or correct; or(d)the assessee has failed to furnish, within the specified time, any information or document which he has required to furnish by a notice issued under sub-section (3) of section 92-D, the Assessing Officer may proceed to determine the arm's length price in relation to the said international transaction in accordance with sub-sections (1) and (2), on the basis of such material or information or document available with him:Provided that an opportunity shall be given by the Assessing Officer by serving a notice calling upon the assessee to show cause, on a date and time to be specified in the notice, why the arm's length price should not be so determined on the basis of material or information or document in the possession of the Assessing Officer.
