2005 (8) TMI 558 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Mumbai granted full waiver of the pre-deposit requirement of Rs. 1 lakh penalty imposed on the assessee under Section 114(i) of the Customs Act, 1962. The penalty was contested due to higher valuation declaration for exported garments. The matter was taken up for adjudication, and the tribunal found fines and penalty not warranted as goods were cleared on provisional assessment order.