1990 (2) TMI 76 - CGOVT - Customs

Summary

The revision application by M/s. India Steamship Co. challenged a penalty imposed under Section 116 of the Customs Act, 1962. The penalty was reduced to Rs. 19,907.00 from Rs. 25,320/- due to valuation issues and evidence of goods being damaged on high seas. The penalty amount was deemed sufficient for justice.