2002 (12) TMI 528

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.... [Order per : Jyoti Balasundaram, Member (J)]. - The above application for waiver of pre-deposit of penalty of Rs. 50,000/- arises out of the order of the Commissioner of Customs, Mumbai. Penalty has been imposed for the reason that the transaction between M/s. Raj Gems, of which the applicant is a partner, and Shri Mustafa Ahadi, of selling 56 carats of diamonds (out of a total quantity of 176....