https://www.taxtmi.com/caselaws?id=311258 An industrial concern that enters into an approved foreign collaboration to obtain technical know-how for its own project use is treated as importing technology, bringing the transaction within the Research and Development Cess Act, 1986 and attracting cess under Section 3(2). The challenge to the levy failed because the petitioner was found to fall within the statutory definition and the technology was brought in for its own execution of the contract. However, interest on delayed payment could not be recovered in the absence of an express statutory provision, so no interest could be directed. The Act did permit consideration of penalty under Section 9(2) for non-payment, subject to the statutory limit. en-us Fri, 11 Jul 2003 00:00:00 +0530 Fri, 15 Dec 2023 10:40:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311258 An industrial concern that enters into an approved foreign collaboration to obtain technical know-how for its own project use is treated as importing technology, bringing the transaction within the Research and Development Cess Act, 1986 and attracting cess under Section 3(2). The challenge to the levy failed because the petitioner was found to fall within the statutory definition and the technology was brought in for its own execution of the contract. However, interest on delayed payment could not be recovered in the absence of an express statutory provision, so no interest could be directed. The Act did permit consideration of penalty under Section 9(2) for non-payment, subject to the statutory limit. Case-Laws Indian Laws Fri, 11 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311258