1990 (2) TMI 76

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....d by the Collector of Customs & Central Excise (Appeals), Calcutta wherein Collector had upheld the Assistant Collector's orders imposing a penalty of Rs. 25,320/-, under Section 116 of the Customs Act, 1962. 2. In the personal hearing held on 1-12-1990 Shri S.S. Subramanian reiterated the arguments raised in the revision application and further pleaded that the penalty imposed was excessive in....

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....tc. produced by them were certainly relevant for working out the value of goods short-landed. Though Collector was not wrong in rejecting the insurance survey report, nevertheless, it is necessary that quantification of the value should be done on reasonable basis and the party made aware as to how it has been arrived at. 4. It is admitted by the Collector (Appeals) that appellants made conside....