1998 (12) TMI 257 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai granted waiver of penalty totaling Rs. 70.00 lacs to the applicant. The penalty was imposed for using urea formaldehyde instead of phenol formaldehyde in the manufacture of commercial plywood exported. The Tribunal found a strong case in favor of the applicant as conditions of penalty clauses were not met and waived the penalty deposit, staying its recovery.