2001 (3) TMI 360 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai ruled in favor of the appellant regarding the seizure of Laser Discs. The counsel argued that the discs did not fall under Customs Act Section 123 or Chapter IV A. Evidence showed lawful importation, supported by a Government of India order. The tribunal found the market value not as high as claimed and granted waiver of penalty pre-deposit due to overvaluation and lack of notification for the goods. (Case citation: 2001 (3) TMI 360 - CEGAT, Mumbai)