2000 (8) TMI 841 - AT - Customs

Summary

The Appellate Tribunal upheld the order for confiscation of imported betel nuts valued at Rs. 47,58,008.60 due to under-valuation and lack of import license. The assessable value was raised to US $ 455.82 based on a contemporaneous import, leading to a reduction in redemption fine to Rs. 15 lakhs and personal penalty to Rs. 2.50 lakhs.