Tribunal overturns penalty for undervaluation due to lack of evidence. Financial loss argument considered.

NOBLE INTERNATIONAL Versus COMMISSIONER OF CUSTOMS, MUMBAI

NOBLE INTERNATIONAL Versus COMMISSIONER OF CUSTOMS, MUMBAI - 2001 (127) E.L.T. 754 (Tri. - Mum.) The appeal was against the order confirming confiscation of LPG conversion kits due to undervaluation and imposing a penalty of Rs. 15,000. The appellant did not challenge the liability but requested the penalty to be set aside due to financial loss. The Tribunal accepted the appeal, stating that the price list alone is not evidence of goods imported at the listed price, and since the goods were not redeemed, the penalty was set aside.