2002 (2) TMI 692 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai upheld the confiscation of vessel MSV Kirti but reduced the fine to Rs. 32,500 from Rs. 2,50,000. The owner's claim of vessel value and deterioration was accepted, but the vessel was still eligible for confiscation under Section 115(2) of the Customs Act, 1962 due to smuggling involvement. The appeal was partly allowed.