2005 (2) TMI 693 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Bangalore reduced the penalty imposed on the appellant from Rs. 2,00,000 to Rs. 1,00,000 for importing waste lubricating oil without the required authorization and license, which was liable for confiscation under the Customs Act, 1962. The appellant was found liable for penalty under Section 112 of the Customs Act, but the penalty amount was reduced considering the circumstances.