Customs penalty upheld by Bombay High Court despite FOB contract presence.

The High Court of Judicature at Bombay dismissed an appeal challenging a penalty imposed in a customs case despite the presence of an FOB contract on record. The court upheld the penalty, ruling that it was justified based on the misdeclaration of goods' value.

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The High Court of Judicature at Bombay dismissed an appeal where the petitioner argued that the Tribunal did not consider the FOB contract in a customs case. The court found that despite the FOB contract being on record, the penalty imposed was justified due to misdeclaration of goods' value. The appeal was dismissed. (Citation: 2009 (7) TMI 168 - HIGH COURT OF JUDICATURE AT BOMBAY)

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