(1)The provisions of sub-sections (1), (2), (5) and (6) of Section 129-C of the Customs Act, 1962 (52 of 1962) shall apply to the Appellate Tribunal in the discharge or its functions under this Act as they apply to it in the discharge of its functions under the Customs Act, 1962.(2)The President or any other member of the Appellate Tribunal authorised in this behalf by the President may, sitting singly, dispose of any case which has been allotted to the Bench of which he is a member where-(a)the value of the thing confiscated without option having been given to the owner thereof to pay a fine in lieu of confiscation under Section 73; or(b)the amount of fine or penalty involved, does not exceed [fifty thousand rupees] [Substituted by Act 21 of 1984, Section 55 (w.e.f. 11-5-1984).].
