2001 (8) TMI 505 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai heard a case where duty was demanded from Intrade Impex Pvt. Ltd. for misdeclaration of upholstery fabric value. The Tribunal waived the penalty imposed and stayed its recovery as the evidence provided was deemed insufficient. The duty payable was not quantified, so the deposit was unnecessary. The Tribunal declined to stay the operation of the order or hear the appeal out of turn based on values from other Custom Houses. No orders were passed regarding encashment of the bank guarantee provided by the importer.