2002 (9) TMI 186 - AT - Customs

Summary

The appellants challenged Order-in-Appeal No. 201/02, dated 14-5-2002 regarding misdeclaration of goods. The Commissioner reduced penalty to Rs. 2,30,000/-. DRI suggested enhancing value to US $ 200 PMT for blue M.S. sheets found in the consignment. Appellants argued for proof of contemporaneous import to revise valuation. The Tribunal set aside the order and remanded the matter for re-consideration based on evidence of market value and profit margin. Misdeclaration of goods is not disputed, and re-adjudication is required. Appeal allowed for remand to original authority.