2001 (12) TMI 699 - AT - Customs

Summary

The applicants sought waiver of duty payment of Rs. 34,32,122 minus Rs. 20 lakhs already paid, and penalty of Rs. 50 lakhs. The department claimed undervaluation of imported electronics items based on quotations seized from the applicant's premises. The tribunal found the quotations unreliable and waived the remaining duty and penalties, staying their recovery during the appeals.