TaxTMI 
TaxTMI 
2001 (9) TMI 689
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....Chattopadhyay, JDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - The appellant entered into a technical collaboration with M/s. Cell Power Co. Ltd., Taiwan for manufacturing, assembling and sale of UPS systems. As per the agreement, M/s. Cell Power Co. Ltd. was to supply technical knowhow, plant, machinery and equipment to the appellant. The appellants were to pay technical k....
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....ced below :- "I find that at the time of signing of the agreement an amount of US $ 3,000.00 being first instalment out of total payable amount of US $ 10,000.00 was remitted to the Cell Power. Subsequent installment payments have not been made to the collaborator as stated by the Spaceage. Nothing has been stated by the Spaceage about the fate of the US $ 3,000.00 which was remitted to the Cell ....
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....sioner was filed before Commissioner of Customs (Appeals), who has rejected the same by observing that the foreign currency remitted out of India has to be accounted for. Hence the present appeal. 4. We have heard Shri B.N. Chattopadhyay ld. consultant appearing for the appellant and Shri A.K. Chattopadhyay, ld. JDR appearing for the Revenue. Admittedly nothing has been imported by the appel....