JUDGMENT

SABYASACHI MUKHARJI, J.

(1) THIS is an appeal under S. 130-E of the Customs Act, 1962 (hereinafter called the Act) against the order the Customs, Excise and Gold (Control) Appellate tribunal rejecting the appeal, preferred by the appellant. There was a search of the premises of the appellant in which documents were recovered from the premises of the appellant. The effects of those documents have been examined and considered by the tribunal in its order at pages 6 and 7 of the paper book. The question before the tribunal was: what was the price? The tribunal considered the respective evidence; the appellant was contending that it should be US $ 553.40 while the respondent authorities had fixed it at US $ 627.27, and had come to the conclusion that the goods were undervalued. Having considered the relevant evidence the tribunal was of the opinion that the revenue authorities were correct in accepting the rate of US $ 627.27. If that is so, then the question was rightly decided by the revenue authorities. The penalty of Rs. 4,50,000.00 has been imposed, keeping in view all the facts the tribunal had reduced the penalty to Rs. 2,50,000.00 . Except that modification, the