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of <h1>Appellate Tribunal waives balance penalty, directs deposit of Rs. 3.00 lakhs for seized foreign currency.</h1> The Appellate Tribunal CEGAT, Mumbai directed the applicant to deposit Rs. 3.00 lakhs within two months, waiving the balance of the penalty imposed for ... Stay/Dispensation of pre-deposit The judgment by the Appellate Tribunal CEGAT, Mumbai involved a waiver application for a deposit of Rs. 3.50 lakhs imposed on the applicant due to the seizure of foreign currency worth Rs. 40.76 lakhs. The applicant claimed to be a carrier paid a meagre amount and retracted statements regarding the source of the currency. The Tribunal directed the applicant to deposit Rs. 3.00 lakhs within two months, waiving the balance of the penalty.
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