What time is recorded when a phone call is made from another timezone?

That depends on what you mean. On the phone that is making the call, and on that person's phone bill, the call will show up at the time in the time zone from which the call was placed.

The phone of the person receiving the call, and that person's phone bill (if, for example, you pay for incoming calls on a cellphone), will show the call at the time it was received.