2001 (2) TMI 792 - AT - Customs

Summary

The appellate tribunal granted early hearing, waived penalty of Rs. 1 lakh. The exporter overvalued goods for export, leading to confiscation and fine. The tribunal reduced the fine to Rs. 4,00,000 due to financial loss from delay. Penalty of Rs. 1 lakh was upheld. The appeal was allowed with reduced fine.