1998 (12) TMI 314 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Calcutta ruled on a case involving imported goods misdeclared as consumer goods. The goods were held to be polyester-based nylon fabric, not velvet as claimed. The goods were confiscated and a penalty of Rs. 10 lakhs imposed. The Tribunal accepted the stay petition, waived the penalty, and allowed the appeal hearing, considering the goods as security due to their high value.