I.A. Ansari, J.

1. Some of the material facts, which are not in dispute, may noted at the outset.

2. The petitioner herein is sole proprietorship concern engaged in the business of import of ready-made garments and clothings. The petitioner holds a valid Certificate of Importer-Exporter Code (IEC) for running its business. By order, dated 24.8.2008, issued by the office of the Assistant Commissioner, Customs Division, Dhubri, the petitioner was given permission to import ready-made garments from Bangaldesh through various Land Customs Stations of North East including Mankachar Mahendraganj Land Customs Station.

3. Pursuant to the permission, so granted, the petitioner entered into a contract of sale, on 2.1.2009, with M/s. Friends International, a firm engaged in the manufacture of ready-made garments, with its address at 29-C Asad Avenue, Mohammadpur, Dhaka, Bangladesh, whereunder it was agreed, between the parties concerned, that M/s. Friends International would supply 1,50,000 pieces and 15,000 Kgs. of ready-made garments for a consideration amount of (US Dollars) $ 2,50,000 within a period of one year, through various land customs stations. Pursuant to the said contract fo