As Boquisucio determined, was a Soviet Diakonoff grenade, one of two in the holdings of the Arsenal. This is a later version, with a time fuze.
Here's a bookend of late (on the left, a Brit 40mm training grenade commonly used today) and early (on the right, 1920's, 40mm grenade developed by the Soviets and used in WWII. Like the french Vivien-Bessier grenade of WWI, this was fired from a "tromblon" or cup discharger, and was a "bullet-through" vice "bullet-trap", grenade. Thus far when I've seen them, I've been outbid for them, but if anyone knows of any available Mosin-Nagant tromblons and related sight, I'm in the market!
For Owen - here's a closeup of the time fuze ring (these grenades are unusual for their era in having a time fuze). Oh, and those projections that threw some of you off? There are three, spaced evenly around the grenade.
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