1999 (3) TMI 210 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai directed Gaurang Mehta to deposit Rs. 20 lakhs out of Rs. 50 lakhs penalty imposed for importing goods and not fulfilling export obligations. The Tribunal later reduced the deposit amount to Rs. 10 lakhs as the department decided not to appeal against dropping penalty proceedings for other buyers. Compliance was required by 24-5-1999.