1998 (12) TMI 257

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..... [Order per : Gowri Shankar, Member (T)]. Application is for waiver of deposit of penalty totalling Rs. 70.00 lacs. 2. Advocate for the applicant explains that penalty has been imposed on the finding of the Commissioner that whereas bonding agent was used urea formaldehyde in the manufacture of commercial plywood exported, applicant had declared to the licensing authority for advance lic .....

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