2001 (6) TMI 385 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai considered an application for waiver of a penalty of Rs. 5 lakhs imposed on an exporter for misdeclaration of fabric identity and value. The Commissioner found that the fabrics were not polypropylene as claimed but dhurries with a cotton backing, valued at Rs. 51 lakhs instead of the declared Rs. 1.48 crores. The Tribunal directed the deposit of Rs. 1 lakh within a month to waive the remaining penalty. Compliance was required by June 29, 2001.