JUDGMENT

Kausik Chanda, J. - These two appeals arise out of a common judgment and order dated August 25, 2009, passed by the learned Single Judge allowing the writ petition. Both the appeals are being disposed of by this co`mmon judgment.

2. The facts leading to filing of these appeals, in brief, are as under.

3. The writ petitioner No.1 is a company, registered under the Companies Act, 1956 (hereinafter referred to as the company ) and carries on business of dyeing, bleaching and finishing of cotton knitted fabrics.

4. The company, on January 14, 1999, applied before the Director General of Foreign Trade for grant of ten percent customs duty licence to import three textile machines which was approved by the said authority by a letter dated February 18, 1999. On the basis of the said import licence, the company imported three textile machines which arrived in Kolkata Port in the same month. The bills of entry for the same, however, were filed by the company only on August 20, 1999 and August 23, 1999 respectively.

5. At this juncture, it is necessary to notice that Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 empowers the Central Government to frame and amen