V.G. Sabhahit , J.—This appeal is filed by the appellant in Customs Appeal No. 217/2005 passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench at Bangalore (hereinafter called as 'Tribunal' for brevity) being aggrieved by the order dated 1-5-2007 [ 2007 (216) E.L.T. 626 (Tribunal)], wherein the Tribunal has upheld the order passed by the Commissioner imposing penalty under Section 112(a) of the Customs Act, 1962 (hereinafter called as 'Act' for brevity) and reduced the penalty from Rs.50,000/- to Rs.5,000/-. The material facts leading up to this appeal are as follows :

The officers of the Customs Headquarters Preventive, Central Intelli-gence Unit (CIU), Bangalore had gathered specific intelligence to the effect that M/s. Surya Light, New Delhi (importer) had imported Compact Fluorescent Lamps (CFL) from Sri Lanka through Inland Container Depot (ICD), Bangalore but had misdeclared the country of origin of the goods in order to avail the benefit of exemption under the Indo-Sri Lankan Free Trade Agreement (ISFTA) and also to evade the payment of Anti-Dumping Duty leviable on the CFL imported from or originating from China. Based on the above intell