COMMISSIONER OF CUSTOMS Vs. PRAGATI ASSOCIATES P. LTD.

JUDGEMENT

(1.) Admit. The following substantial question of law is framed for consideration:

(2.) Filing of paper book is dispensed with.

(3.) The Tribunal has recorded a finding in Paragraph 4 of the impugned order that there is a principle of law to the effect that an amount exceeding 5% of the CIF value of the goods cannot be imposed as penalty. In this regard reliance has been placed by the Tribunal on Asia Pacific Marbles Pvt. Ltd. v/s. CC, Mumbai [ : 2002 (53) RLT 1095] in which, inter alia, the penalty levied was 5% of the CIF value of the goods.