2005 (1) TMI 464 - AT - Customs

Summary

The appeal sought waiver of penalty amount of Rs. 5 lakhs under Section 112(a) of the Customs Act for importing goods of Chinese origin declared as Malaysian. The appellants admitted knowledge of the shipment discrepancy. The Tribunal directed a deposit of Rs. 2 lakhs within 8 weeks, with balance penalty waiver upon compliance. Failure to comply would result in appeal dismissal under Section 129E of the Act. Compliance to be reported by 22-3-2005.