2002 (1) TMI 637 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai upheld the penalty and redemption fine imposed on M/s. Tamilnadu Petro Products Ltd. for under-declaring the value of imported catalyst. The Tribunal rejected the appeal for enhancement of the penalty and fine, stating that the importers failed to provide a satisfactory explanation for the lower valuation declared. Both appeals were rejected.