2000 (5) TMI 123

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....ppeal is against the order of the Collector (Appeals) confirming confiscation on the ground of gross undervaluation a consignment of LPG conversion kits imported by the appellants and imposing of penalty of Rs. 15,000/- under Section 112 of the Act. 2. The Advocate for the appellant says that he does not wish to challenge the liability to confiscation of the goods and the liability to penalty o....

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....oods at the price mentioned in the list. The judgment of the Supreme Court in Sharp Business Machine v. UOI - 1990 (49) E.L.T. 640 has been interpreted later to be limited to those cases where the importer himself holds at one stage to the Government authority that he purchased (as in the case for obtaining licence) that he wishes to purchase the goods at a higher price than the price at which he ....