2003 (7) TMI 353 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Mumbai found that the goods imported were undervalued and not old as claimed. The Commissioner imposed a fine of Rs. 10 lakhs for re-exportation and penalties totaling Rs. 6 lakhs. The appellants challenged the quantum of fine and penalty. The Tribunal reduced the fine to Rs. 2 lakhs and set aside the penalty as it was imposed under a different provision than stated in the show cause notice. The appeals were partly allowed.