2006 (7) TMI 682

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..... d the penalty imposed on the respondents. 2. The relevant facts that arise for consideration are that the respondent imported used tyres and declared a value. On examination, it was found that the goods which were imported were used tyres and import of these goods was restricted as per Export - Import policy 2005. It was also noticed that value of the goods was also underinvoiced. The adjudicat .....

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..... s case is as under;- I agree with the adjudicating authority that there had been contravention of the above mentioned provisions of law and the goods in question were liable to confiscation and appellants were liable to penal action. However, I find that the value of goods has already been loaded with more than 250% approx. on the Bill of Entry without assigning any reason or any ground for do .....

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